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A condensed balance sheet for Morningstar, Inc. is presented below: Required: Prepare a vertical analysis of the balance sheet for Morningstar, Inc. (Round your answers

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A condensed balance sheet for Morningstar, Inc. is presented below: Required: Prepare a vertical analysis of the balance sheet for Morningstar, Inc. (Round your answers to the nearest whole percent.) Morningstar, Inc. Balance Sheet December 31 (amounts in millions) % Amount Amount % Current Assets Current Liabilities Cash & Cash Equivalents $ 4,684 $ 313 Accounts Payable Accrued Liabilities Accounts Receivable 885 1,937 Inventories 583 Total Current Assets Total Current Liabilities 2,250 6,152 2,280 Long-Term Liabilities 890 Property & Equipment, Net Long-Term Investments 2,008 Total Liabilities Total Stockholder's Equity Total Liabilities & Stockholder's Equity 3,140 7,300 $ 10,440 Total Assets $ 10,440

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