A condensed balance sheet for Simultech Corporation and a partially completed vertical analysis are presented below Required 1. Complete the vertical analysis by computing each missing line item as a percentage of total assets. (Round your answers to the nearest whole percent) SIMULTECH CORPORATION Balance Sheet (summarized) January 31 in millions of U.S. dollars) $ 849 935 1,784 Cash and Short-Term Investments S1,248 Accounts Receivable Inventories Other Current Assets Property and Equipment Other Assets Total Assets 50% Current Liabilities 34 % 259 10 Notes Payable (long-term) 38 7 Total Liabilities 364 20 410 S 2,472 Common Stock 1 Retained Earnings 577 688 2.472 23 Total Stockholders' Equity 100% Total Liabilities & Stockholders' Equity 17 $ 100 % 2-a. What percentage of Simultech's total assets relate to inventories? (Round your answers to the nearest whole percent.) Inventory 2-b. What percentage of Simultech's total assets relate to property and equipment? (Round your answers to the nearest whole percent.) Property and Equipment% 2-c. Which of these two asset groups is more significant to Simultech's business? O This indicates that property and equipment is a much more significant asset than inventory This indicates that inventory is a much more significant asset than property and equipment. 3. What percentage of Simultech's assets is financed by total stockholder's equity? By total liabilities? (Round your answers to the nearest whole percent.) Percentage Total Stockholder's Equity Total Liabilities