RNA INC Income Statement For the Year ended November 30, 2013 (In thousands) Sales (net) $ 30,500 Interest Income 500 Total Revenue 31,000 Cost and Expenses Cost of Goods sold 17,600 Selling and administrative expenses 3,550 Depreciation and amortization expenses 1,890 Interest expenses 900 Total cost and expenses 23,940 Income before taxes 7,060 Income Taxes 2,800 Net Income $ 4,260 RNA INC. Balance Sheet As November 30 (In thousands) 2013 2012 Cash $ 400 500 Short-term investment (at cost) 300 200 Account Receivable (net) 3,200 2,900 Inventory 6,000 5,400 Total Current Assets 9,900 9,000 Property, plan, & equipment (net) 7,100 7,000 Total Assets $17,000 $16,000 Account Payable 3,700 3,400 Income Taxes Payable 900 800 Accrued Expenses 1,700 1,400 Total Current Liabilities 6,300 5,600 Long-term debt 2,000 1,800 Total Liabilities 8,300 7,400 Common stock ($1 par value) 2,700 2,700 Paid-in-capital in excess of par 1,000 1,000 Retained earnings 5,000 4,900 Total stockholders’ equity 8,700 8,600 Total liabilities and stockholders’ equity $17,000 16,000 1- 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.