perform horizontal and vertical analyses using a-mart's income statement

*perform vertical analysis only

II. Using the following accounts from A-Mart, Incorporated's balance sheet for the year ending December 31, 2013, answer the questions below. Note that all figures are millions. Php Current Portion of LT. Debt Leasehold improvements Accrued expenses Accumulated depreciation Gross fixed assets Accounts Payable Inventories Common Stock (Php1.00 par) Short-term bank loan Net Accounts receivable Long-term bank loan Cash 60 300 40 200 900 90 190 400 20 100 200 120