Golden Corporation declared and paid $4,600 of cash dividends during the current year ended December 31. Its financial statementsalso reported the following summarized data:Required:1. Complete the horizontal analyses for each item in Golden Corporation's comparative financial statements. TIP: Calculate theincrease (decrease) by subtracting the previous year from the current year. Calculate the percentage by dividing the amount ofincrease (decrease) by the previous-year balance. (Decreases should be indicated by a minus sign. Round percentage values to1 decimal place.)2-a. Use the horizontal (trend) analyses to identify the accounts where a large percentage change is accompanied by a small dollarchange. (You may select more than one answer. Single click the box with the question mark to produce a check mark for acorrect answer and double click the box with the question mark to empty the box for a wrong answer.)2-b. Use the horizontal (trend) analyses to identify the accounts where a directional change in one account balance is inconsistent withthe directional change in a related account balance. (You may select more than one answer. Single click the box with thequestion mark to produce a check mark for a correct answer and double click the box with the question mark to empty thebox for a wrong answer.)Complete this question by entering your answers in the tabs below.Required 1 Required 2A Required 2BComplete the horizontal analyses for each item in Golden Corporation's comparative financial statements. TIP: Calculate theincrease (decrease) by subtracting the previous year from the current year. Calculate the percentage by dividing the amountof increase (decrease) by the previous-year balance. (Decreases should be indicated by a minus sign. Roundpercentage values to 1 decimal place.)Income StatementSales revenueCost of goods soldGross profitOperating expensesInterest expenseIncome before income taxesIncome tax expenseNet incomeBalance SheetCashAccounts receivable (net)InventoryProperty and equipment (net)Total AssetsCurrent liabilitiesNotes payable (long-term)Common stock (par $5)Additional paid-in capitalRetained earningsTotal liabilities & stockholders' equityGOLDEN CORPORATIONHorizontal AnalysisCurrent$ 196,000 $ 176,200118,000106,40078,00069,80056,5004,30017,200$Previous$6,40010,800 $3,100 $52,0004,04013,7604,6009,1607,10020,60022,40038,50036,60043,20035,500$ 105,400 $ 101,600$15,400 $ 17,80051,00051,00024,00024,0004,4004,40010,6004,400$ 105,400 $101,600Increase (Decrease)in Current (versus Previous)AmountPercentage%%%%%%%%Show less A%%%%%%%%%%%

The comparative financial statement analysis done by comparing the figure of 1 to the previous year data noted to calculate the net increase or decrease and the percentage change as well.Income statement. Amount increase or decrease. % Sales revenue 19800. 11.24% Cost of goods sold 11600. 11% Gross profit. 8200. 11.75% operating expense 4500. 8.65% Interest expense 260. 6.44% income before income tax 3440. 25% income tax expense 1800 39.13% Net income 1640. 18%Balances sheet Cash( 4000. ). (-56.34)% Account receivable (1800). (8.03)% Inventory. 1900. 5.19% Property equipment 7700. 21.69% Total assets 3800. 3.74% Current liability (2400). ( -13.48)% Note payable 0. 0% Common stock 0. 0% Additional paid in capital 0. 0% Retain earning 6200. 141% Total liability and stock holder 3800, 3.74%