Prepare a vertical analysis of both the balance sheets and income statements for 2019 and 2018

THORNTON COMPANY Vertical Analysis of Income Statements 2019 Percentage of Amount Sales 2018 Percentage of Sales Amount Revenues $ 230,400 8,200 238,600 $ 210,800 5,600 216,400 Sales (net) Other revenues Total revenues Expenses Cost of goods sold Selling, general, and administrative expense Interest expense Income tax expense Total expenses 119,500 54,300 6,200 21,200 201,200 37,400 102,000 48,900 5,400 20,200 176,500 39,900 Net income $ 1% $ THORNTON COMPANY Vertical Analysis of Balance Sheets 2018 2019 Percentage of Total Amount Amount Percentage of Total Assets Current assets Cash % $ 12,400 6,600 Marketable securities Accounts receivable (net) 46,700 Inventories Prepaid items Total current assets $ 16,300 20,700 55,900 136,000 25,100 254,000 28,300 271,700 29,000 329,000 $ 583,000 Investments 144,200 10,400 220,300 21,300 255,400 24,200 300,900 Plant (net) Land Total long-term assets Total assets $ 521,200 Liabilities and stockholders' equity Liabilities Liabilities and stockholders' equity Liabilities $ $ Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities 16,400 113,600 20,600 150,600 5,200 98,600 13,200 117,000 Noncurrent liabilities Bonds payable Other Total noncurrent liabilities 98,200 30,900 129,100 279,700 98,200 26,100 124,300 241,300 Total liabilities Stockholders' equity Preferred stock (par value $10,4% cumulative, nonparticipating; 6,800 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings Total stockholders' equity Total liabilities & stockholders' equity 68,000 68,000 167,300 303,300 $ 583,000 68,000 68,000 143,900 279,900 $ 521,200 %