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Pinnacle Plus declared and paid a cash dividend of $5,600 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information:

Required:

1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage?

Req 1 Reg 2A Req 2B 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 percentage values to 1 decimal place.) PINNACLE PLUS Horizontal Analysis Increase (Decrease) in the Current year (versus the Previous year) Amount Percentage Current Year Previous Year Income Statement $ 130,000 $ % 56,000 113,000 50,000 63,000 74,000 31,000 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income 29,000 3,000 3,000 40,000 12,000 28,000 $ 31,000 9,300 21,700 $ % Balance Sheet Cash $ 77,260 $ % 19,000 33,300 12,000 36,000 24,000 94,000 100,000 $ $ 181,300 214,260 46,000 % % $ $ 37,000 Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Note Payable (long-term) Total Liabilities Common Stock (par $10) Retained Earnings Total Liabilities and Stockholders' Equity 1,800 3,360 30,000 30,000 68,800 86,000 79,360 86,000 48,900 214,260 $ 26,500 $ 181,300 % Req 1 Req 2A Req 2B Which account increased by the largest dollar amount? Account Reg 1 Reg 2A Reg 2B Which account increased by the largest percentage? Account

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