Analysis Analysis Bal Sheet Inc Stmt Prepare a vertical analysis of the balance sheets for Year 4 and Year 3. (Percentages may not add exactly due to rounding. Round your percentage answers to 2 decimal places. (i.e., 0.2345 should be entered as 23.45).) Show less FANNING COMPANY Vertical Analysis of Balance Sheets Year 4 Year 3 Percentage Amount Amount Percentage of Total of Total Assets Current assets Cash $ 16,600 % $ 13,900 % Marketable securities 20,000 7,000 Accounts receivable (net) 54,200 47,000 Inventories 136,400 143,500 Prepaid items 26,900 11,500 Total current assets 254,100 222,900 Investments 27,800 20,900 Plant (net) 270,400 255,700 29,100 24,900 Total long-term assets 327,300 301,500 Total assets $ 581,400 $ 524,400 Liabilities and stockholders' equity Liabilities Current liabilities Notes payable $ 16,100 $ 4,500 Accounts payable 113,600 98,200 Salaries payable 20,500 14,900 Total current liabilities 150,200 117,600 Noncurrent liabilities Bonds payable 98,500 98,500 Other 31,800 25,000 Total noncurrent liabilities 130,300 123,500 Total liabilities 280,500 241,100 Stockholders' equity Preferred stock (par value $10,4% cumulative, nonparticipating; 7,500 75,000 75,000 shares authorized and issued) Common stock (no par; 50,000 shares 75,000 75,000 authorized; 10,000 shares issued) Retained earnings 150,900 133,300 Total stockholders' equity 300,900 283,300 Total liabilities & stockholders' equity $581,400 % $ 524,400 1% Land Analysis Analysis Bal Sheet Inc Stmt Prepare a vertical analysis of the balance sheets for Year 4 and Year 3. (Percentages may not add exactly due to rounding. Round your percentage answers to 2 decimal places. (i.e., 0.2345 should be entered as 23.45).) Show less A FANNING COMPANY Vertical Analysis of Income Statements Year 4 Year 3 Amount Percentage Percentage Amount of Total of Total Revenues $ $ Sales (net) % % 231,600 210,600 Other revenues 9,100 5,700 Total revenues 240,700 216,300 Expenses Cost of goods sold 118,400 101,800 Selling, general, and 53,700 49,900 administrative expense Interest expense 6,300 5,500 Income tax expense 21,600 20,600 Total expenses 200,000 177,800 $ $ Net income % % 40,700 38,500