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

a. Use the following financial information to calculate the owner's equity and prepare a balance sheet with vertical analysis as of December 31, 2015, for Victory Lane Sporting Goods, a sole proprietorship owned by Kyle Pressman: current assets, $152,600; property, plant, and equipment, $48,000; investments and other assets, $34,300; current liabilities, $21,200; and long-term liabilities, $58,900.

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

Victory Lane Sporting Goods
Balance Sheet with vertical analysis
December 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, $173,800; property, plant, and equipment, $48,400; investments and other assets, $37,600; current liabilities, $24,400; and long-term liabilities, 52,000.

Calculate the owner's equity for 2016 and prepare a 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.

						Increase		Increase
						(Decrease)		(Decrease)
Assets		2016		2015		Amount		Percent
Total Assets		$		$		$		%
Liabilities & Owner's Equity
Total Liability & Owner's Equity		$		$		$		%