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

a) Use horizontal analysis techniques to compare the changes between 2018 and 2017 balance sheet items.

Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values. Round all percentages to the nearest whole number (i.e. 21.61% should be entered as 22%).

b) Perform a vertical analysis of the income statement for 2018, stating all income statement items as a percentage of net sales.

Jade Inc. Balance Sheet As at March 31 $ Change 2018 2017 %Change Current Assets $337,200 $328,500 $ Cash % $215,800 $176,500 $ Accounts Receivable Merchandise Inventory $377,100 $415,200 $ $79,200 Short-Term Investments $94,500 $ Total Current Assets $1,009,300 $1,014,700 $ Noncurrent Assets $415,600 $309,900 $ o/ Total Assets $1,424,900 $1,324,600 $ Current Liabilities $259,600 $225,100 $ $111,700 Long-Term Liabilities $86,100 $ Total Liabilities $371,300 $311,200 $ Stockholders' Equity % $1,053,600 $1,013,400|$| Total Liabilities and Equity $1,424,900|$1,324,600 $ Jade Inc. Income Statement For the Year Ended March 31 2018 $708,000 Sales % $318,600 Cost of Goods Sold $389,400 Gross Profit Operating Expenses % Administrative Expense $29,600 $73,800 Selling Expense Total Operating Expenses $103,400 Other Income and Expenses % Interest Expense $16,800 % $269,200 Income Before Income Tax % Income Tax Expense $80,760 % $188,440 Net Income 96