Take me to the text You have been asked to examine the financial statements for Jade Inc. and to comment on trends. a) Use horizontal analysis tools to compare the changes between 2019 and 2020 line items for the balance sheet. 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 June 30 2020 2019 % Change Current Assets Cash $318,100 $329,900-35.76 * 06 Accounts Receivable $204,600 $166,200 Inventory $455,400 $418,000 Short Term Investments $106,600 $90,300 Total Current Assets $1,084,700 $1,004,400 Other Assets $469,400 $336,400 Total Assets $1,554,100 $1,340,800 Current Liabilities $227,100 $266,000 Long-Term Debt $56,000 $91,400 Total Liabilities $283,100 $357,400 Shareholders Equity $1,271,000 $983.400 Total Liabilities and Equity $1,554,100 $1,340 000 13 b) Use vertical analysis tools to compare line items to the sales base figure. Jade Inc. Income Statement For the Year Ended June 30 2020 Sales $711,000 100 Cost of Sales $248,050 -4621.5 X% Gross Profit $462,150 96 Operating Expenses Advertising Expense $7,400 Bank Charges Expense $7,000 % Communication Expense $5,600 Depreciation Expense $7,000 Professional Fees Expense $7,900 Rent Expense $5,800 Repairs and Maintenance Expense $7,500 Salaries and Wages Expense Transportation Expense $55,900 Utilities Expense $5.300 Total Operating Expenses $114.000