$4$ Part $2$ 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.

points

References

$\backslash$table$[[$SPORTS UNLIMITED$],[$Balance Sheets$],[$For the Years Ended December $31],[,$Year,Increase $($Decrease$)],[,,2024,,2023,$Amount,$\%],[$Assets$],[$Current assets:$],[$Cash$,$$$,188,800,$$$,135,800,,],[$Accounts receivable,,$76,000,,51,800,,],[$Inventory$,,72,000,,133,700,,],[$Prepaid rent,,$11,200,,5,600,,],[$Long$-$term assets:$],[$Investment in bonds,,$99,200,,16,400,,],[$Land$,,200,800,,215,600,,],[$Equipment$,,194,400,,192,500,,],[$Less: Accumulated depreciation,,$(42,400),,(35,000),,],[$Total assets,$$,800,000,$$$,716,400,,],[$Liabilities and Stockholders' Equity$],[$Current liabilities:$],[$Accounts payable,$$,51,200,$$$,89,600,,],[$Interest payable,,$22,400,,11,200,,],[$Income tax payable,,$16,000,,13,300,,],[$Long$-$term liabilities:$],[$Notes payable,,$270,400,,179,900,,],[$Stockholders$\text{'}$ equity:$],[$Common stock,,$224,000,,224,000,,],[$Retained earnings,,$216,000,,198,400,,],[$Total liabilities and stockholders' equity,$$,800,000,$$$,716,400,,]]$

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.

points

References

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. Roun your percentage answers to $1$ decimal place.$)$

$\backslash$table$[[$SPORTS UNLIMITED$],[$Balance Sheets$],[$For the Years Ended December $31],[,2024,2023],[,,$mount,$\%,,$mount,$\%],[$Assets$],[$Current assets:$],[$Cash$,$$$,188,800,,$$$,135,800,],[$Accounts receivable,,$76,000,,,51,800,],[$Inventory$,,72,000,,,133,700,],[$Prepaid rent,,$11,200,,,5,600,],[$Long$-$term assets:$],[$Investment in bonds,,$99,200,,,16,400,],[$Land$,,200,800,,,215,600,],[$Equipment$,,194,400,,,192,500,],[$Less: Accumulated depreciation,,$(42,400),,,(35,000),],[$Total assets,$$,800,000,,$$$,716,400,],[$Liabilities and Stockholders' Equity$],[$Current liabilities:$],[$Accounts payable,$$,51,200,,$$$,89,600,],[$Interest payable,,$22,400,,,11,200,],[$Income tax payable,,$16,000,,,13,300,],[$Long$-$term liabilities:$],[$Notes payable,,$270,400,,,179,900,],[$Stockholders$\text{'}$ equity:$],[$Common stock,,$224,000,,,224,000,],[$Retained earnings,,$216,000,,,198,400,],[$Total liabilities and stockholders' equity,$$,800,000,,$$$,716,400,]]$