Use horizontal analysis techniques to compare the changes between 2020 and 2019 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 2 decimal places.

Jade Inc.

Balance Sheet

As at January 3120202019$ Change% ChangeCurrent AssetsCash$328,700$317,900$Answer

Answer

%Accounts Receivable$215,900$172,600$Answer

Answer

%Merchandise Inventory$437,100$412,500$Answer

Answer

%Short-Term Investments$89,800$113,400$Answer

Answer

%Total Current Assets$1,071,500$1,016,400$Answer

Answer

%Long-Term Assets$259,300$338,300$Answer

Answer

%Total Assets$1,330,800$1,354,700$Answer

Answer

%Current Liabilities$282,400$238,300$Answer

Answer

%Long-Term Liabilities$174,000$140,400$Answer

Answer

%Total Liabilities$456,400$378,700$Answer

Answer

%Shareholders' Equity$874,400$976,000$Answer

Answer

%Total Liabilities and Equity$1,330,800$1,354,700$Answer

Answer

%

b) Perform a vertical analysis of the income statement for 2020, stating all income statement items as a percentage of net sales.

Jade Inc.

Income Statement

For the Year Ended December 312020Sales$708,000Answer

%Cost of Goods Sold$389,400Answer

%Gross Profit$318,600Answer

%Operating ExpensesAdvertising Expense$5,000Answer

%Utilities Expense$7,300Answer

%Rent Expense$4,100Answer

%Salaries and Wages Expense$46,200Answer

%Depreciation Expense$33,600Answer

%Interest Expense$7,500Answer

%Total Expenses$103,700Answer

%Income Before Income Tax$214,900Answer

%Income Tax Expense$64,470Answer

%Net Income$150,430Answer

%

Use horizontal analysis techniques to compare the changes between 2020 and 2019 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 2 decimal places.

Jade Inc.

Balance Sheet

As at January 3120202019$ Change% ChangeCurrent AssetsCash$328,700$317,900$Answer

Answer

%Accounts Receivable$215,900$172,600$Answer

Answer

%Merchandise Inventory$437,100$412,500$Answer

Answer

%Short-Term Investments$89,800$113,400$Answer

Answer

%Total Current Assets$1,071,500$1,016,400$Answer

Answer

%Long-Term Assets$259,300$338,300$Answer

Answer

%Total Assets$1,330,800$1,354,700$Answer

Answer

%Current Liabilities$282,400$238,300$Answer

Answer

%Long-Term Liabilities$174,000$140,400$Answer

Answer

%Total Liabilities$456,400$378,700$Answer

Answer

%Shareholders' Equity$874,400$976,000$Answer

Answer

%Total Liabilities and Equity$1,330,800$1,354,700$Answer

Answer

%

b) Perform a vertical analysis of the income statement for 2020, stating all income statement items as a percentage of net sales.

Jade Inc.

Income Statement

For the Year Ended December 312020Sales$708,000Answer

%Cost of Goods Sold$389,400Answer

%Gross Profit$318,600Answer

%Operating ExpensesAdvertising Expense$5,000Answer

%Utilities Expense$7,300Answer

%Rent Expense$4,100Answer

%Salaries and Wages Expense$46,200Answer

%Depreciation Expense$33,600Answer

%Interest Expense$7,500Answer

%Total Expenses$103,700Answer

%Income Before Income Tax$214,900Answer

%Income Tax Expense$64,470Answer

%Net Income$150,430Answer

%