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 percentages to the nearest whole number (i.e. 21.61% should be entered as 22%).

Karde Inc. Balance Sheet As at October 31
	2019	2018	$ Change	% Change
Current Assets
Cash	$324,600	$315,800	$Answer	Answer %
Accounts Receivable	$144,300	$170,700	$Answer	Answer %
Merchandise Inventory	$423,100	$401,000	$Answer	Answer %
Short-Term Investments	$89,900	$111,900	$Answer	Answer %
Total Current Assets	$981,900	$999,400	$Answer	Answer %
Noncurrent Assets	$440,300	$306,800	$Answer	Answer %
Total Assets	$1,422,200	$1,306,200	$Answer	Answer %
Current Liabilities	$283,300	$239,700	$Answer	Answer %
Long-Term Liabilities	$99,800	$65,800	$Answer	Answer %
Total Liabilities	$383,100	$305,500	$Answer	Answer %
Stockholders Equity	$1,039,100	$1,000,700	$Answer	Answer %
Total Liabilities and Equity	$1,422,200	$1,306,200	$Answer	Answer %

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

Karde Inc. Income Statement For the Year Ended October 31
	2019
Sales	$707,000	Answer %
Cost of Goods Sold	$212,100	Answer %
Gross Profit	$494,900	Answer %
Operating Expenses
Administrative Expense	$21,200	Answer %
Selling Expense	$71,500	Answer %
Total Operating Expenses	$92,700	Answer %
Other Income and Expenses
Interest Expense	$18,200	Answer %
Income Before Income Tax	$384,000	Answer %
Income Tax Expense	$115,200	Answer %
Net Income	$268,800	Answer %