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(-/1.06 Points] DETAILS BRECMBC9 15.1.034. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER (a) Use the following financial information to calculate the owner's equity and prepare
(-/1.06 Points] DETAILS BRECMBC9 15.1.034. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER (a) Use the following financial information to calculate the owner's equity and prepare a balance sheet with vertical analysis as of December 31, 2018, for Victory Lane Sporting Goods, a sole proprietorship owned by Kyle Pressman: current assets, $157,700; property, plant, and equipment, $41,000; investments and other assets, $35,600; current liabilities, $21,300; and long-term liabilities, $55,400. (Round percents to one decimal.) Victory Lane Sporting Goods Balance Sheet December 31, 2018 Assets Liabilities & Owner's Equity Current Assets $ % Current Liabilities $ % Property, Plant, Equipment $ % Long-Term Liabilities $ % Investments & Other Assets $ % Total Liabilities $ % Total Assets $ % $ % Owners Equity Total Liabilities & Owner's Equity $ %
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