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 July 31
	2022	2021	% Change
Current Assets
Cash	$327,100	$319,800	Answer %
Accounts Receivable	$230,800	$184,500	Answer %
Inventory	$418,000	$380,700	Answer %
Short-Term Investments	$101,100	$116,800	Answer %
Total Current Assets	$1,077,000	$1,001,800	Answer %
Other Assets	$401,500	$291,000	Answer %
Total Assets	$1,478,500	$1,292,800	Answer %
Current Liabilities	$317,600	$269,200	Answer %
Long-Term Debt	$120,100	$93,300	Answer %
Total Liabilities	$437,700	$362,500	Answer %
Shareholders Equity	$1,040,800	$930,300	Answer %
Total Liabilities and Equity	$1,478,500	$1,292,800	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 July 31
	2022
Sales	$686,000	Answer %
Cost of Goods Sold	$308,700	Answer %
Gross Profit	$377,300	Answer %
Operating Expenses
Advertising Expense	$8,000	Answer %
Bank Charges Expense	$4,100	Answer %
Communication Expense	$5,200	Answer %
Depreciation Expense	$6,600	Answer %
Professional Fees Expense	$6,100	Answer %
Rent Expense	$4,500	Answer %
Repairs and Maintenance Expense	$4,200	Answer %
Salaries and Wages Expense	$43,200	Answer %
Transportation Expense	$8,000	Answer Not answered Mark 0.00 out of 1.00 %
Utilities Expense	$7,700	Answer %
Total Operating Expenses	$97,600	Answer %
Net Income	$279,700	Answer %