A. Prepare a vertical analysis of the balance sheets for 2019 and 2018. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).)

B. Prepare a vertical analysis of an income statements for 2019 and 2018. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).)

Vertical Analysis of Balance Sheets 2019 Percentage of Amount Total 2018 Percentage of Amount Total Assets Current assets Cash Marketable securities S 17,900 9% S 12,500 96 20,800 7.100 48,100 55,800 Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land 135,100 26,700 258,300 144.300 10.900 27,400 220,900 21,100 255,500 271,300 30.000 328,700 $ 585,000 24,500 301,100 $ 522,000 S $ 16,100 112,700 19,500 148,300 6,000 99,100 14,300 119,400 Total long-term assets Total assets Liabilities and stockholders' equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other Total noncurrent liabilities Total liabilities Stockholders' equity Preferred stock (par value $10,4% cumulative, nonparticipating: 7,900 shares authorized and issued) Common stock (no par: 50.000 shares authorized: 10.000 shares issued) Retained earnings Total stockholders' equity Total liabilities & stockholders' equity 99,000 99,000 30.800 26.000 129,800 278,100 125.000 244,400 79,000 79,000 79,000 79,000 148.900 306,900 $ 585,000 119,600 277,600 $ 522,000 96 96 VERNON COMPANY Vertical Analysis of Income Statements 2019 Percentage of Amount Sales 2018 Amount Percentage of Sales Revenues 96 Sales (net) Other revenues $ 231,900 9,400 241,300 $ 211,300 6,400 217,700 Total revenues 119,000 53,300 102,900 49,400 Expenses Cost of goods sold Selling, general, and administrative expense Interest expense Income tax expense Total expenses 7,100 6,300 21,600 22,600 202.000 39,300 180,200 Net income $ 96 s 37,500 96