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(a) Use the following financial information to calculate the owner's equity and prepare a balance sheet with vertical analysis as of December 31, 2018,
(a) Use the following financial information to calculate the owner's equity and prepare a balance sheet with vertical analysis as of December 31, 2018, for Victory Lane Sporting Goods, a sole proprietorship owned by Kyle Pressman: current assets, $157,500; property, plant, and equipment, $41,000; investments and other assets, $35,800; current liabilities, $21,300; and long- term liabilities, $55,400. (Round percents to one decimal.) Victory Lane Sporting Goods Balance Sheet December 31, 2018 Assets Current Assets Liabilities & Owner's Equity $ % Current Liabilities $ % Property, Plant, Equipment $ % Long-Term Liabilities $ % Investments & Other Assets $ % Total Liabilities $ % Total Assets +A $ % Owners Equity $ % Total Liabilities & Owner's $ % Equity
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