1.

2.

Gamma Golf Company's balance sheet at December 31, 2018 is as follows: (Click the icon to view the balance sheet.) Requirement 1. Perform a vertical analysis of Gamma Golf Company's balance sheet to determine the component percentages of its assets, liabilities, and stockholders' equity. (Round the percentages to the nearest hundredth percent, X.XX%.) Data Table Gamma Golf Company Vertical Analysis of Balance Sheet December 31, 2018 Amount % of total Assets $ Gamma Golf Company Balance Sheet December 31, 2018 Total current assets Property, plant, and equipment, net Other assets 41,470 207,640 40,890 Assets $ 290,000 $ Total assets Total current assets Property, plant, and equipment, net 41.470 207,640 40,890 Liabilities Other assets Total current liabilities $ 46,980 110,490 $ 290,000 Long-term debt Total liabilities Stockholders' Equity Total assets Liabilities Total current liabilities 157,470 $ 46,980 110,490 Total stockholders' equity 132,530 $ 290,000 Long-term debt Total liabilities Stockholders' Equity 157,470 Total liabilities and stockholders' equity Total stockholders' equity 132,530 290,000 Total liabilities and stockholders' equity $ Print Done The comparative income statement of Outdoor Music Co. for the years ended December 31, 2018 and 2017 is as follows: (Click the icon to view the comparative income statement) Requirement 1. Prepare a comparative common-size income statement for Outdoor Music Co. (Round your answers to one-hundredth of a percent, X.XX%.) Outdoor Music Co. Comparative Common-Size Income Statements Years Ended December 31, 2018 and 2017 2018 * Data Table 2017 Total revenue Expenses: Cost of goods sold Selling and general expenses Interest expense Outdoor Music Co. Comparative Income Statements Years Ended December 31, 2018 and 2017 2018 $ 1,077,000 $ Total revenue 2017 917,000 Income tax expense Expenses: Cost of goods sold Total expenses $ Net income Selling and general expenses Interest expense 477,000 $ 287,000 23,500 105,500 408,750 268,000 13,500 84,650 774.900 142,100 Income tax expense Total expenses 893,000 184,000 $ $ Net income Print Done