1. Prepare a vertical analysis of Fantasy Football's 2018 and 2017 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 answers to 1 decimal place.)

2. Prepare a horizontal analysis of Fantasy Football's 2018 balance sheet using 2017 as the base year. (Negative amounts and Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.)

FANTASY FOOTBALL Balance Sheets December 31 2018 2017 % Amount Amount Assets Current assets: 367,200 $ $ Cash 185,600 Accounts receivable 1,067,200 1,566,000 Inventory 3,404,600 2,030,400 Supplies 203,000 183,600 Long-term assets: Equipment 1,566,000 1,566,000 (626,400) Less: Accumulated depreciation (313,200) $ $ 5,800,000 5,400,000 Total assets Liabilities and Stockholders' Equity Current liabilities: $ Accounts payable 255,200 167,400 Interest payable 0 5,400 Income tax payable 156,600 156,600 Long-term liabilities: Notes payable 1,879,200 1,879,200 Stockholders' equity: 1,155,600 Common stock 1,155,600 Retained earnings 2,353,400 2,035,800 $ 5,800,000 5,400,000 Total liabilities and stockholders' equity FANTASY FOOTBALL Balance Sheets December 31 Increase (Decrease) Year 2018 2017 Amount Assets Current assets: $ 367,200 Cash 185,600 Accounts receivable 1,067,200 1,566,000 3,404,600 Inventory 2,030,400 Supplies 203,000 183,600 Long-term assets: 1,566,000 Equipment 1,566,000 Accumulated depreciation |(626,400) (313,200) L $ 5,800,000 5,400,000 Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 255,200 $ 167,400 Interest payable 5,400 Income tax payable 156,600 156,600 Long-term liabilities: Notes payable 1,879,200 1,879,200 Stockholders' equity: 1,155,600 Common stock 1,155,600 Retained earnings 2,035,800 2,353,400 $ Total liabilities and stockholders' equity 5,800,000 5,400,000