The following financial statements are taken from the records of Jade inc a) Use horizontal analysis techniques to compare the changes between 2019 and 2018 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 April 30 2019 2018 % Change Current Assets Cash $304,500 $315,800 Accounts Receivable $160,200 $197,600 Merchandise Inventory $422,200 $399,000 Short-Term Investments $135,000 $111,400 Total Current Assets 51,021,900 51,023,800 Jade Inc. Balance Sheet As at April 30 2019 2018 % Change Current Assets Cash $304,500 $315,800 % Accounts Receivable $160,200 $197,600 % Merchandise Inventory $422,200 $399,000 % Short-Term Investments $135,000 $111,400 96 Total Current Assets $1,021,900 $1,023,800 96 Other Assets $174,700 $315,500 % Total Assets $1,196,600 $1,339,300 % Current Liabilities $170,300 $209,600 9% Long-Term Debt $41,000 $84,400 % Total Liabilities $211,300 $294,000 96 Shareholders' Equity $985,300 $1,045,300 96 Total Liabilities and Equity $1,196,600 $1,339,300 % b) Perform a vertical analysis of the income statement for 2019, stating all income statement items as a percentage of net sales. Jade Inc. Income Statement For the Year Ended April 30 2019 Sales $709,000 Cost of Goods Sold $319,050 $389.950 Gross Profit Operating Expenses Achvertising Expense $4,700 Bank Charges Expense 55,600 55.000 communication Expense Depreciation Expense $5,000 Professional Fees Expense 57.800 Rent Expense 57.000 Repairs and Maintenance Expense $7,500 Salaries and Wages Expense 546,500 Salaries and Wages Expense $46,500 % Transportation Expense $7,100 % Utilities Expense $6,300 % Total Operating Expenses $103,300 % Net Income $286,650 %6