The following financial statements are taken from the records of Organo 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.

Organo Inc. Balance Sheet As at September 30
	2019	2018	% Change
Current Assets
Cash	$311,500	$320,600	Answer%
Accounts Receivable	$150,700	$197,200	Answer%
Merchandise Inventory	$444,100	$407,700	Answer%
Short-Term Investments	$88,000	$107,300	Answer%
Total Current Assets	$994,300	$1,032,800	Answer%
Other Assets	$163,000	$287,300	Answer%
Total Assets	$1,157,300	$1,320,100	Answer%
Current Liabilities	$185,400	$220,000	Answer%
Long-Term Debt	$31,800	$72,900	Answer%
Total Liabilities	$217,200	$292,900	Answer%
Shareholders Equity	$940,100	$1,027,200	Answer%
Total Liabilities and Equity	$1,157,300	$1,320,100	Answer%

b) Perform a vertical analysis of the income statement for 2019, stating all income statement items as a percentage of net sales.

Organo Inc. Income Statement For the Year Ended September 30
	2019
Sales	$695,000	Answer%
Cost of Goods Sold	$208,500	Answer%
Gross Profit	$486,500	Answer%
Operating Expenses
Advertising Expense	$8,000	Answer%
Bank Charges Expense	$6,200	Answer%
Communication Expense	$4,100	Answer%
Depreciation Expense	$6,200	Answer%
Professional Fees Expense	$7,200	Answer%
Rent Expense	$5,600	Answer%
Repairs and Maintenance Expense	$5,200	Answer%
Salaries and Wages Expense	$61,200	Answer%
Transportation Expense	$8,000	Answer%
Utilities Expense	$6,300	Answer%
Total Operating Expenses	$118,000	Answer%
Net Income	$368,500	Answer%