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The comparative financial statements prepared at December 31 for Golden Corporation showed the following summarized data Required 1. Complete the two final columns shown beside each item in Golden Corporation's comparative financial statements. TIP: Calculate the increase (decrease) by subtracting the previous year from the current year. Calculate the percentage by dividing the amount of increase (decrease) by the previous year balance. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) GOLDEN CORPORATION Horizontal Analysis Increase (Decrease) in Current (versus Previous) Amount Current Previous Percentage Income Statement Sales revenue Cost of goods sold Gross profit Operating expenses Interest expense Income before income taxes Income tax expense Net income Balance Sheet Cash Accounts receivable (net) Inventory Property and equipment (net) $ 180,000$165,000 100,000 65,000 50,400 2,600 12,000 3,000 $ 10,000 $9,000 110,000 70,000 53,300 2,700 14,000 4,000 $ 4,000$8,000 23,000 35,000 38,000 $ 108,000$104,000 $16,000$19,000 45,000 30,000 5,000 5,000 $ 108,000$104,000 19,000 40,000 45,000 Current liabilities Note payable (long-term) Common stock (par $5) Additional paid-in capital Retained earnings* 45,000 30,000 5,000 12,000

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