The following financial statements are taken from the records of Karde Inc. a) Use horizontal analysis techniques to compare the changes between 2022 and 2021 balance sheet items. b) Perform a vertical analysis of the income statement for 2022, stating all income statement items as a percentage of net sales. Do not enter dollar signs or commas in the input boxes. Karde Inc. Income Statement Use the negative sign for negative values. Round all answers to 2 decimal places. For the Year Ended May 31 2022 Sales $694,000 % Karde Inc. Balance Sheet As at May 31 2022 2021 % Change Cost of Goods Sold $242,900 % Current Assets Gross Profit $451,100 % Cash $336,500 $322,500 % Operating Expenses Accounts Receivable $184,600 $159,300 % Advertising Expense $6,600 % Inventory $371,400 $403,400 % Bank Charges Expense $7,300 % Communication Expense $5,000 % Short-Term Investments $109,900 $95,900 % Depreciation Expense $6,000 % Total Current Assets $1,002,400 $981,100 % Professional Fees Expense $4,300 % Other Assets $386,400 $262,000 % Rent Expense $4,700 % Total Assets $1,388,800 $1,243,100 % Repairs and Maintenance Expense $7,200 % Current Liabilities $247,700 $204,300 % Salaries and Wages Expense $50,600 % Long-Term Debt $133,500 $99,600 % Transportation Expense $5,300 % Total Liabilities $381,200 $303,900 % Utilities Expense $7,900 % Shareholders' Equity $1,007,600 $939,200 % Total Operating Expenses $104,900 % Total Liabilities and Equity $1,388,800 $1,243,100 % Net Income $346,200 %