CP13-3 Vertical Analysis of a Balance Sheet ILO 13-3, LO 13-5] Interactive Arts is a video game company that competes with Extravision. A condensed balance sheet for Interactive Arts and a partially completed vertical analysis are presented below. Required 1. Complete the vertical analysis by computing each line item as a percentage of total assets. TIP: Inventories were 1 percent of total assets, computed as ($53 $6,295) x 100. (Round your answers to the nearest whole percent.) INTERACTIVE ARTS, INC Balance Sheet (summarized) March 31, 2013 (in millions of U.S. dollars) 2,638 42 Accounts Payable 116 2% Cash and Short-term Investments 290 5 Accrued Liabilities 708 Accounts Receivable, Net 53 1 Notes Payable (long-term) 1,909 30 Inventories Other Current Assets Total Liabilities 2,733 56 Common Stock Intangibles 3,528 1,535 753 Retained Earnings 34 1 Property and Equipment, Net 2 Total Stockholders' Equity 3,562 Other Assets 123 100 Total Liabilities & Stockholders' Equity 6,295 6,295 Total Assets 100