0 Required information [The following information applies to the questions displayed below.) The balance sheets for Sports Unlimited for 2021 and 2020 are provided below. Required: 1. Prepare a vertical analysis of Sports Unlimited's 2021 and 2020 balance sheets. Express each amount as a percentage of total assets for that year. (Amounts to be deducted should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) SPORTS UNLIMITED Balance Sheets For the years ended December 31 2021 2020 Amount % Amount $ $ 217,800 101,700 91,800 28,800 148,000 51,200 159,200 14,400 0 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable 100,800 191,700 213,300 (45,900) 900,000 253,600 201,600 (28,000) 800,000 $ $ $ $ 59,400 28,800 15,300 84,800 14,400 15,200 TARRA link 301,500 280,000 Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 288,000 207,000 900,000 288,000 117,600 800,000 $ $ Required information [The following information applies to the questions displayed below.) The balance sheets for Sports Unlimited for 2021 and 2020 are provided below. 2. Prepare a horizontal analysis of Sports Unlimited's 2021 balance sheet using 2020 as the base year. (Negative amounts and Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) SPORTS UNLIMITED Balance Sheets For the years ended December 31 Year Increase (Decrease) Amount % 2021 2020 Assets Current assets: Cash $ 217,800 $ 148,000 Accounts receivable 101,700 91,800 28,800 51,200 159,200 14,400 0 Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable 100,800 191,700 213,300 (45,900) 900,000 $ 253,600 201,600 (28,000) 800,000 $ $ 59,400 $ 28,800 15,300 84,800 14,400 15,200 301,500 280,000 Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 288,000 207.000 900,000 $ 288,000 117,600 800,000 $