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 August 31
	2019	2018	% Change
Current Assets
Cash	$336,000	$325,300	Answer%
Accounts Receivable	$139,800	$171,700	Answer%
Merchandise Inventory	$439,100	$409,600	Answer%
Short-Term Investments	$118,800	$101,400	Answer%
Total Current Assets	$1,033,700	$1,008,000	Answer%
Other Assets	$135,700	$257,000	Answer%
Total Assets	$1,169,400	$1,265,000	Answer%
Current Liabilities	$273,400	$225,700	Answer%
Long-Term Debt	$173,300	$143,400	Answer%
Total Liabilities	$446,700	$369,100	Answer%
Shareholders Equity	$722,700	$895,900	Answer%
Total Liabilities and Equity	$1,169,400	$1,265,000	Answer%

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 August 31
	2019
Sales	$714,000	Answer%
Cost of Goods Sold	$285,600	Answer%
Gross Profit	$428,400	Answer%
Operating Expenses
Advertising Expense	$5,200	Answer%
Bank Charges Expense	$4,900	Answer%
Communication Expense	$4,700	Answer%
Depreciation Expense	$7,600	Answer%
Professional Fees Expense	$6,400	Answer%
Rent Expense	$7,200	Answer%
Repairs and Maintenance Expense	$7,900	Answer%
Salaries and Wages Expense	$45,000	Answer%
Transportation Expense	$8,000	Answer%
Utilities Expense	$4,400	Answer%
Total Operating Expenses	$101,300	Answer%
Net Income	$327,100	Answer%