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

a) Use horizontal analysis techniques to compare the changes between 2022 and 2021 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 August 31
	2022	2021	% Change
Current Assets
Cash	$336,500	$324,400	Answer%
Accounts Receivable	$230,900	$186,800	Answer%
Inventory	$378,700	$404,600	Answer%
Short-Term Investments	$128,000	$102,000	Answer%
Total Current Assets	$1,074,100	$1,017,800	Answer%
Other Assets	$181,300	$314,000	Answer%
Total Assets	$1,255,400	$1,331,800	Answer%
Current Liabilities	$212,500	$246,100	Answer%
Long-Term Debt	$115,000	$147,900	Answer%
Total Liabilities	$327,500	$394,000	Answer%
Shareholders Equity	$927,900	$937,800	Answer%
Total Liabilities and Equity	$1,255,400	$1,331,800	Answer%

b) Perform a vertical analysis of the income statement for 2022, stating all income statement items as a percentage of net sales.

Organo Inc. Income Statement For the Year Ended August 31
	2022
Sales	$714,000	Answer%
Cost of Goods Sold	$285,600	Answer%
Gross Profit	$428,400	Answer%
Operating Expenses
Advertising Expense	$5,600	Answer%
Bank Charges Expense	$8,000	Answer%
Communication Expense	$4,700	Answer%
Depreciation Expense	$6,900	Answer%
Professional Fees Expense	$5,800	Answer%
Rent Expense	$6,300	Answer%
Repairs and Maintenance Expense	$7,100	Answer%
Salaries and Wages Expense	$79,300	Answer%
Transportation Expense	$6,100	Answer%
Utilities Expense	$5,700	Answer%
Total Operating Expenses	$135,500	Answer%
Net Income	$292,900	Answer%