Beetle Groceries Ltd. reports the following set of financial statements for 2020.

Required Using the following information, perform a vertical analysis for the income statement and balance sheet for 2020.

Beetle Groceries Ltd.
Income Statement
For the Year Ended December 31, 2020
	2019	%
Sales Revenue	$ 585,000
Cost of goods sold	$ 366,000
Gross Margin	$ 219,000
Operating Expenses
Selling and general expenses	$ 170,000
Interest expense	$ 11,200
Total expenses	$ 181,200
Net Income	$ 37,800

Beetle Groceries Ltd.
Balance Sheet
31-Dec-20
Assets	2019	%
Cash	$ 40,000
Accounts Receivable	$ 11,000
Inventory	$ 31,500
Prepaid Expenses	$ 5,000
Total Current Assets	$ 87,500
Long Term Investments
Property, plant and equipment, net	$ 70,000
Total Assets	$ 157,500
Liabilities
Accounts Payable	$ 12,500
Income Taxes Payable	$ 1,500
Other liabilities	$ 65,000
Total Current Liabilities	$ 79,000
Long Term Debt	$ 11,100
Total Liabilities	$ 90,100
Shareholder Equity
Common Shares	$ 50,000
Retained Earning	$ 17,400
Total Shareholders Equity	$ 67,400
Total Liabilities & Shareholder's Equity	$ 157,500