2 Required Prepare a vertical analysis of both the balance sheets and income statements for Year 4 and Year 3. nts Complete this question by entering your answers in the tabs below. Analysis Bal Analysis Inc Sheet Stmt eBook Prepare a vertical analysis of the balance sheets for Year 4 and Year 3. (Percentages may not add exactly due to rounding. Round your percentage answers to 2 decimal places. (i.e., 0.2345 should be entered as 23.45).) Print ALLENDALE COMPANY Vertical Analysis of Balance Sheets Year 4 Year 3 eferences Percentage of Percentage of Amount Total Amount Total Assets Current assets Cash $ 40,000 % $ 36,000 9% Marketable securities 20,000 6,000 Accounts receivable (net) 54,000 46,000 Inventories 135,000 143,000 Prepaid items 25,000 10,000 Total current assets 274,000 241,000 Investments 27,000 20,000 Plant (net) 270,000 255,000 Land 29,000 24,000 Total long-term assets 326,000 289,000 Total assets $ 600,000 $ 540,0002 Total long-term assets 326,000 280,000 Total assets $ 600,000 3 540,000 Liabilities and stockholders' equity Liabilities Current liabilities pints Notes payable S 17,000 S 6,000 Accounts payable 113,800 100,000 Salaries payable 21,000 15,000 eBook Total current liabilities 151,800 121,000 Noncurrent liabilities Bonds payable 100,000 100,000 Print Other 32,000 27,000 Total noncurrent liabilities 132,000 127,000 Total liabilities 283,800 248,000 References Stockholders' equity Preferred stock (par value $10, 4% cumulative, 80,000 80,000 nonparticipating: 8,000 shares authorized and issued) Common stock (no par; 50.000 shares authorized; 10,000 80,000 80,000 shares issued) Retained earnings 156,200 132,000 Total stockholders' equity 316,200 282,000 Total liabilities & stockholders' equity $ 600,000 % $ 540,000Required Prepare a vertical analysis of both the balance sheets and income statements for Year 4 and Year 3. nts Complete this question by entering your answers in the tabs below. Analysis Bal Analysis Inc Sheet Stmt BBook Prepare a vertical analysis of an income statements for Year 4 and Year 3. (Percentages may not add exactly due to rounding. Round your percentage answers to 2 decimal places. (i.e., 0.2345 should be entered as 23.45).) Print ALLENDALE COMPANY Vertical Analysis of Income Statements eferences Year 4 Year 3 Amount Percentage of Total Amount Percentage of Total Revenues Sales (net) $ 230,000 $ 210,000 Other revenues 8,000 5,000 Total revenues 238,000 215,000 Expenses Cost of goods sold 120,000 103,000 Selling, general, and administrative expense 55,000 50,000 Interest expense 8,000 7,200 Income tax expense 23,000 22,000 Total expenses 206,000 182,200 Net income S 32,000 $ 32,800 9%