$1$

Part $1$ of $2$

Required information

$[$The following information applies to the questions displayed below.$]$

The balance sheets for Sports Unlimited for $2024$ and $2023$ are provided below.

$10$

points

Required:

Prepare a vertical analysis of Sports Unlimited's $2024$ and $2023$ 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.$)$

$\backslash$table$[[$SPORTS UNLIMITED$],[$Balance Sheets$],[$For the Years Ended December $31],[,2024,2023],[,$Amount,$\%,$Amount,$\%],[$Assets$],[$Current assets:$],[$Cash$,$$$,163,150,,$$$,108,000,],[$Accounts receivable,,$59,150,,,46,200,],[$Inventory$,,61,750,,,110,400,],[$Prepaid rent,,$15,600,,,7,800,],[$Long$-$term assets:$],[$Investment in bonds,,$81,900,,,16,200,],[$Land$,,165,750,,,218,400,],[$Equipment$,,152,750,,,145,200,],[$Less: Accumulated depreciation,,$(50,050),,,(36,000),],[$Total assets,$$,650,000,,$$$,616,200,],[$Liabilities and Stockholders' Equity$],[$Current liabilities:$],[$Accounts payable,$$,55,250,,$$$,86,400,],[$Interest payable,,$15,600,,,7,800,],[$Income tax payable,,$11,700,,,11,400,],[$Long$-$term liabilities:$],[$Notes payable,,$213,200,,,193,200,],[$Stockholders$\text{'}$ equity:$],[$Common stock,,$234,000,,,234,000,],[$Retained earnings,,$120,250,,,83,400,],[$Total liabilities and stockholders' equity,$$,\backslash$table$[[650,000]],,$$$,616,200,]]$