Check my work 3 Part 1 of 2 Required: 1. Prepare a vertical analysis of Sports Unlimited's 2021 and 2020 balance sheets. Express each amount as a percentage of total assets for that year. (Amounts to be deducted should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) 10 points Skipped SPORTS UNLIMITED Balance Sheets For the years ended December 31 2021 Amount % 2020 Amount % Assets eBook Current assets: Cash $ 172,800 $ 128,800 References 94,400 91,200 22,400 51,800 120,400 11,200 Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land 0 238,700 101,600 171,200 188,800 (42,400) 800,000 172,200 (23,100) 700,000 $ $ $ $ 77,600 11,200 103,600 5,600 Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 12,800 11,200 261,600 208,600 252,000 252,000 184,800 800,000 119,000 700,000 $ $ Check my work 4 2. Prepare a horizontal analysis of Sports Unlimited's 2021 balance sheet using 2020 as the base year. (Negative amounts and Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Part 2 of 2 SPORTS UNLIMITED 9 points Balance Sheets For the years ended December 31 Year Increase (Decrease) Skipped 2021 2020 Amount % Assets Current assets: eBook Cash $ 172,800 $ 94,400 128,800 51,800 Accounts receivable 91,200 References 120,400 11,200 22,400 Inventory Prepaid rent Long-term assets: Investment in bonds 0 101,600 171,200 Land 188,800 (42,400) 800,000 $ 238,700 172,200 (23,100) 700,000 $ $ 77,600 $ 103,600 5,600 Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 11,200 12,800 11,200 261,600 208,600 252,000 184,800 800,000 $ 252,000 119,000 $ 700,000