Perform vertical and horizontal analysis Lo12-1,12-2) P12-3 The balance sheets for Sports Unlimited for 2024 and 2023 are provided below. SPORTS UNLIMITED Balance Sheets For the years ended December 31 2024 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land 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 equity Required: $103,500 46,800 44,550 7.200 2023 $ 70,400 32,000 71,200 3,600 54,900 117,450 141,600 106,200 102,000 (30,600) $450,000 (20,800) $400,000 $ 30,150 7,200 12.150 $ 46,800 3,600 10,000 138.150 127,600 144,000 144,000 118,350 68,000 $450,000 $400,000 1. Prepare a vertical analysis of Sports Unlimited's 2024 and 2023 balance sheets. Express each amount as a percentage of total assets for that year, 2. Prepare a horizontal analysis of Sports Unlimited's 2024 balance sheet using 2023 as the base year.