Exercise 13-3 Here is financial information for Pauletti Inc. December 31, 2012 December 31, 2011 Current assets $109,655 $ 94,910 Plant assets n404,910 353,655 Current liabilities 103,910 68,655 Long-term liabilities 125,655 94,910 Common stock, $1 par 133,655 118,655 Retained earnings 151,345 166,345 Prepare a schedule showing a horizontal analysis for 2012, using 2011 as the base year. PAULETTI INC. Condensed Balance Sheet December 31 Increase or 2012 2011 Amount Percentage Assets Current Assets $109,655 $94,910 $ % Plant assets (net) 404,910 353,655 % Total assets $514,565 $448,565 $ % Liabilities Current Liabilities $103,910 $68,655 $ % Long-term liabilities 125,655 94,910 % Total liabilities $229,565 $163,565 $ % Stockholders' Equity Common stock, $1 par 133,655 118,655 % Retained earnings 151,345 166,345 % Total stockholders' equity 285,000 285,000 % Total liabilities and stockholders' equity $514,565 $448,565 $ %?