Accounting-RNA INC Income Statement For the Year ended November

RNA INCIncome StatementFor the Year ended November 30, 2013(In thousands)Sales (net) $ 30,500Interest Income 500Total Revenue 31,000Cost and ExpensesCost of Goods sold 17,600Selling and administrative expenses 3,550Depreciation and amortization expenses 1,890Interest expenses 900Total cost and expenses 23,940Income before taxes 7,060Income Taxes 2,800Net Income $ 4,260RNA INC.Balance SheetAs November 30(In thousands)2013 2012Cash $ 400 500Short-term investment (at cost) 300 200Account Receivable (net) 3,200 2,900Inventory 6,000 5,400Total Current Assets 9,900 9,000Property, plan, & equipment (net) 7,100 7,000Total Assets $17,000 $16,000Account Payable 3,700 3,400Income Taxes Payable 900 800Accrued Expenses 1,700 1,400Total Current Liabilities 6,300 5,600Long-term debt 2,000 1,800Total Liabilities 8,300 7,400Common stock ($1 par value) 2,700 2,700Paid-in-capital in excess of par 1,000 1,000Retained earnings 5,000 4,900Total stockholders’ equity 8,700 8,600Total liabilities andstockholders’ equity $17,000 16,0001- Based on the information that is provided, do a horizontal percentage analysis for each line item on the Balance Sheet by comparing the amounts as of November 30, 2012 and November 30, 2013.2- Based on the information that is provided, do a vertical percentage analysis for each line item on the Income Statement for the year ended November 30, 2013.