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PA13-1 Analyzing Financial Statements Using Horizontal Analyses [LO 13-2, LO 13-5] The comparative financial statements prepared at December 31 for Pinnacle Plus showed the following summarized data Required 1 Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. (Decreases should be indicated by a minus sign. Round your percentage values to 1 decimal place.) PINNACLE PLUS Horizontal Analysis Increase (Decrease) in the Current year (versus Previous year) Current Year Previous Year Amount Percentage Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Pavable Note Payable (long-term) Total Liabilities Common Stock (par $10) Retained Earningst Total Liabilities and Stockholders' Equity S 207,580 S193,600 $ 112,000 S 100,400 48,200 52,200 33.500 4.200 14,500 4,350 10.150 52,400 59,600 37,000 4,200 18,400 5,520 $ 12,880 S $ 69,780 S 37,600 11 ,600 38.400 106,000 $ 207,580 S 193,600 35,200 700 42,000 77,900 88.000 27,700 17,400 25,200 95,200 42,400S 1,400 42,000 85,800 88.000 33,780

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