The following balance sheet items are available from Carnell Inc. as of December 31, 2012:

Required
a. Prepare a comparative, classified balance sheet for Carnell Inc.
b. Perform horizontal and vertical analyses and interpret the results. Round percentages to one decimal point (i.e., 10.1%).
c. Assume the same information above except that in 2012, Bonds payable is $0 while Retained earnings is $271,295. Does this new information change any interpretations previously made?

2011 S 75,500 35,035 85,065 25,000 300,000 80,000 25,635 24,000 16,465 7,550 27,270 200,000 100,000 100,000 13,500 190,000 6,000 12,275 306,135 33,560 2012 Accounts payable Accounts receivable Bonds payable, due 12131/2016 Buildings, net Capital stock, $5 par Cash Equipment, net Income taxes payable Interest payable Inventory Land Long-term investments Notes payable, due 6/30/2013 Supplies Additional paid-in capital Patents Prepaid rent Retained earnings Salaries payable 50,000 125,000 240,000 100,000 15,000 24,000 12,250 13,755 25,650 300,000 125,000 100,000 12,500 200,000 6,000 10,150 146,295 35,500