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The following financial statements are taken from the records of Jade Inc.

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 $30$

$20222021\%$ Change

Current Assets

Cash $$308,200$ $$322,400$ Answer

$\%$

Accounts Receivable $$133,000$ $$164,600$ Answer

$\%$

Inventory $$441,100$ $$403,000$ Answer

$\%$

Short$-$Term Investments $$143,300$ $$115,800$ Answer

$\%$

Total Current Assets $$1,025,600$ $$1,005,800$ Answer

$\%$

Other Assets $$421,300$ $$273,500$ Answer

$\%$

Total Assets $$1,446,900$ $$1,279,300$ Answer

$\%$

Current Liabilities $$182,600$ $$225,100$ Answer

$\%$

Long$-$Term Debt $$86,000$ $$124,300$ Answer

$-30\mathrm{.}81$

$\%$

Total Liabilities $$268,600$ $$349,400$ Answer

$\%$

Shareholders$$ Equity $$1,178,300$ $$929,900$ Answer

$\%$

Total Liabilities and Equity $$1,446,900$ $$1,279,300$ 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 $$684,000$ Answer

$\%$

Cost of Goods Sold $$273,600$ Answer

$\%$

Gross Profit $$410,400$ Answer

$\%$

Operating Expenses

Advertising Expense $$6,900$ Answer

$\%$

Bank Charges Expense $$7,800$ Answer

$\%$

Communication Expense $$4,600$ Answer

$\%$

Depreciation Expense $$6,900$ Answer

$\%$

Professional Fees Expense $$4,900$ Answer

$\%$

Rent Expense $$6,300$ Answer

$\%$

Repairs and Maintenance Expense $$7,200$ Answer

$\%$

Salaries and Wages Expense $$71,700$ Answer

$\%$

Transportation Expense $$4,400$ Answer

$\%$

Utilities Expense $$4,200$ Answer

$\%$

Total Operating Expenses $$124,900$ Answer

$\%$

Net Income $$285,500$ Answer

$\%$