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

Use the horizontal analysis techniques to compare the changes between 2013 and 2012 balance sheet items.

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

Jade Inc. Balance Sheet As at August 31
	2013	2012	$ Change	% Change
Current Assets
Cash	$326,000	$315,900	$Answer	Answer%
Accounts Receivable	$197,700	$153,300	$Answer	Answer%
Inventory	$397,700	$395,800	$Answer	Answer%
Short-Term Investments	$103,200	$119,100	$Answer	Answer%
Total Current Assets	$1,024,600	$984,100	$Answer	Answer%
Long-Term Assets	$346,500	$315,900	$Answer	Answer%
Total Assets	$1,371,100	$1,300,000	$Answer	Answer%
Current Liabilities	$222,100	$212,900	$Answer	Answer%
Long-Term Liabilities	$128,800	$113,700	$Answer	Answer%
Total Liabilities	$350,900	$326,600	$Answer	Answer%
Stockholders Equity	$1,020,200	$973,400	$Answer	Answer%
Total Liabilities and Equity	$1,371,100	$1,300,000	$Answer	Answer%

b) Prepare a common-size income statement for 2013 and state all the income statement items as a percentage of net sales.

Jade Inc. Income Statement For the Year Ended August 31
	2013	2013
Sales	$791,700	Answer%
Cost of Goods Sold	$358,600	Answer%
Gross Profit	$433,100	Answer%
Operating Expenses:
Advertising	$3,800	Answer%
Utilities	$5,100	Answer%
Rent Expense	$3,600	Answer%
Salaries and Wages	$56,400	Answer%
Depreciation	$34,650	Answer%
Total Operating Expenses	$103,550	Answer%
EBIT	$329,550	Answer%
Interest	$7,730	Answer%
Operating Profit before tax	$321,820	Answer%
Income Tax	$50,100	Answer%
Net Profit	$271,720	Answer%