Prepare the following statements on separate sheets of paper. Then use your statements toenterthe values requested below.

a. Use the followingto calculate the owner's equity and prepare an balance sheet with vertical analysis as of December 31, 2015, for Victory Lane Sporting Goods, a sole proprietorship owned by Kyle Pressman: current assets, $156,100; property, plant, and equipment, $42,000; investments and other assets, $30,800; current liabilities, $24,000; and long-term liabilities, $50,100.

Do not enter the percent symbol in your answers. Round the percent values to one decimal place.

Victory Lane Sporting GoodsBalance Sheet with vertical analysisDecember 31, 2015

Current Assets $_______ % _______

Property, Plant, and Equipment $_______ %_______

Investments and Other Assets $_______ %______

Total Assets $_______ %______

Current Liabilities $_______ %_______

Long-Term Liabilities $ _______ % _______

Total Liabilities $_______ % _______

Owner's Equity $ _______ % _______

Total Liabilities & Owner's Equity

b. The following financial information is for Victory Lane Sporting Goods as of December 31, 2016: current assets, $177,300; property, plant, and equipment, $46,400; investments and other assets, $37,900; current liabilities, $20,000; and long-term liabilities, 55,000.

Calculate the owner's equity for 2016 and prepare an comparative balance sheet with horizontal analysis for 2015 and 2016.

Do not enter the percent symbol in your answers. Round the percent values to one decimal place.

Assets 2016 2015 Increase(Decrease)Amount Increase(decrease)Percent

Total assets $ $ $ %

Liabilities and owner's equity $ $ $ %

Total Liabilities and owner's equity $ $ $ %