Perform a horizontal analysis for Groff Inc. Use 2016 as the base year.Do not enter dollar signs or commas in the input boxes.Round your answers to 2 decimal places.Groff Inc.In Millions of Dollars2019 2018 2017 2016Revenue $500 $400 $300 $200Revenue Ratio Answer% Answer% Answer% Answer%Net Income $166 $158 $144 $120Net Income Ratio Answer% Answer% Answer% Answer%

You've been provided with the following information about a businessComplete a VERTICAL analysis for the "Wages Payable" account for the current year. Round the percentage to one decimal place.Note: Do not enter the "%" symbol when entering your answer. For example if your answer is "5.1%", only enter "5.1". If your answer is negative - remember to include the minus.Balance sheet Current year Prior yearCurrent Assets Cash 14,250 16,700Accounts Receivable 14,000 3,500Inventory 6,000 2,500Prepaid Expenses 650 1,500Non-current assetsProperty Plant Equipment 192,500 193,500Land 210,000 210,000TOTAL ASSETS 437,400 427,700Current liabilitiesAccounts Payable 11,700 4,200Unearned Revenue 3,500 2,000Wages Payable 3,500 2,500Non-current liabilitiesBank Loan 118,000 122,500TOTAL LIABILITIES 136,700 131,200NET ASSETS 300,700 296,500Equity Share Capital 255,000 250,000Retained Earnings 45,700 46,500TOTAL EQUITY 300,700 296,500

Compute common-size percents for the following comparative income statements spanning 2 years.Comparative Income StatementsFor Years Ended December 31  Current Year Prior YearSales $ 1,210,000 $ 1,010,000Cost of goods sold 786,500 636,300Gross profit 423,500 373,700Operating expenses 302,500 262,600Net income $ 121,000 $ 111,100

Required informationSkip to question[The following information applies to the questions displayed below.] The following data were provided by Mystery Incorporated for the year ended December 31: Cost of Goods Sold $ 170,000Income Tax Expense 19,230Merchandise Sales (gross revenue) for Cash 250,000Merchandise Sales (gross revenue) on Credit 44,000Office Expense 19,500Sales Returns and Allowances 7,350Salaries and Wages Expense 42,2002-a. What was the dollar amount of gross profit?2-b. What was the gross profit percentage? (Round your percentage to 1 decimal place.)

You've been provided with the following information about a businessComplete a VERTICAL analysis for the "Cash" account for the current year. Round the percentage to one decimal place.Note: Do not enter the "%" symbol when entering your answer. For example if your answer is "5.1%", only enter "5.1". If your answer is negative - remember to include the minus.Balance sheet Current year Prior yearCurrent Assets Cash 14,250 16,700Accounts Receivable 14,000 3,500Inventory 6,000 2,500Prepaid Expenses 650 1,500Non-current assetsProperty Plant Equipment 192,500 193,500Land 210,000 210,000TOTAL ASSETS 437,400 427,700Current liabilitiesAccounts Payable 11,700 4,200Unearned Revenue 3,500 2,000Wages Payable 3,500 2,500Non-current liabilitiesBank Loan 118,000 122,500TOTAL LIABILITIES 136,700 131,200NET ASSETS 300,700 296,500Equity Share Capital 255,000 250,000Retained Earnings 45,700 46,500TOTAL EQUITY 300,700 296,500

Suppose that James’s income in Year 1 was $40,000. Over the next four years his income increases by 7% per year. At the same time, the economy experiences an inflation rate of 5% per year.  a. Complete the table below. Do not round your intermediate calculations. Enter your final responses as a whole number for Nominal income and Real income. Enter your final responses for the price index rounded to one decimal place. Year Nominal income Price index Real income1 $40,000 100 $ 2 3 4 5 b. At the end of Year 5, James’s real income will be $ .