a) Use horizontal analysis techniques to compare the changes between 2022 and 2021 balance sheet items.

Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values. Round all answers to 2 decimal places.

Jade Inc. Balance Sheet As at September 30
	2022	2021	% Change
Current Assets
Cash	$314,000	$327,900	Answer %
Accounts Receivable	$125,800	$167,200	Answer %
Inventory	$426,200	$393,500	Answer %
Short-Term Investments	$88,700	$111,400	Answer %
Total Current Assets	$954,700	$1,000,000	Answer %
Other Assets	$149,500	$264,500	Answer %
Total Assets	$1,104,200	$1,264,500	Answer %
Current Liabilities	$265,700	$226,400	Answer %
Long-Term Debt	$128,200	$92,300	Answer %
Total Liabilities	$393,900	$318,700	Answer %
Shareholders Equity	$710,300	$945,800	Answer %
Total Liabilities and Equity	$1,104,200	$1,264,500	Answer %

b) Perform a vertical analysis of the income statement for 2022, stating all income statement items as a percentage of net sales.

Jade Inc. Income Statement For the Year Ended September 30
	2022
Sales	$702,000	Answer %
Cost of Goods Sold	$245,700	Answer %
Gross Profit	$456,300	Answer %
Operating Expenses
Advertising Expense	$4,700	Answer %
Bank Charges Expense	$5,900	Answer %
Communication Expense	$6,800	Answer %
Depreciation Expense	$5,600	Answer %
Professional Fees Expense	$7,800	Answer %
Rent Expense	$6,200	Answer %
Repairs and Maintenance Expense	$7,100	Answer %
Salaries and Wages Expense	$79,000	Answer %
Transportation Expense	$6,900	Answer %
Utilities Expense	$4,700	Answer %
Total Operating Expenses	$134,700	Answer %
Net Income	$321,600	Answer %