Use Exhibit 13-8, The Institute of Management Accountants financial report.

Required

a. How much was the combined change in net assets between 1997 and 1998?

b. Prepare a horizontal common-size analysis for total revenue and expenses for 1997 and 1998. (Use 1997 as the base.)

c. Prepare a vertical common-size analysis for the combined revenues and expenses for 1997 and 1998. (Use total revenues as the base.)

d. Comment on significant items in the horizontal and vertical commonsize analyses.