Problem 12-3B Perform vertical and horizontal analysis (L012-1, 12-2)

Required information Problem 12-3B Perform vertical and horizontal analysis (L012-1, 12-2) (The following information applies to the questions displayed below) The balance sheets for Fantasy Football for 2021 and 2020 are provided below Problem 12-3B Part 1 Required: 1. Prepare a vertical analysis of Fantasy Football's 2021 and 2020 balance sheets. Express each amount as a percentage of total assets for that year. (Amounts to be deducted should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) FANTASY FOOTBALL Balance Sheets December 31 2021 Amount 2020 Amount Assets Current assets Cash Accounts receivable 192.000 892.000 2,650 200 1720000 414 000 1,251,200 1,587,000 133,4001 Inventory Supplies Long term assets FANTASY FOOTBALL Balance Sheets December 31 2021 Amount 2020 Amount 192,000 892,800 2,659,200 172,800 414,000 1,251,200 1,587,000 133,400 1,545,600 (662,400) 4,800,000 1,545,600 (331,200) 4,600,000 $ $ Assets Current assets Cash Accounts receivable Inventory Supplies Long-term assets: Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Noles payable Stockholders' equity Common stock Retained earnings Total liabilities and stockholders' equity $ 148,800 $ 105,800 4,600 110,400 110,400 1,104,000 1,104,000 1,012,000 2,424,800 4,800,000 1,012,000 2,263,200 4,600,000 $ $ Required information Problem 12-3B Perform vertical and horizontal analysis (L012-1, 12-2) The following information applies to the questions displayed below! The balance sheets for Fantasy Football for 2021 and 2020 are provided below. Problem 12-3B Part 2 2. Prepare a horizontal analysis of Fantasy Football's 2021 balance sheet using 2020 as the base year. (Negative amounts and Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) FANTASY FOOTBALL Balance Sheets December 31 Year Increase (Decrease) Amount 2021 2020 Assets $ $ Current assets: Cash Accounts receivable Inventory Supplies Long-term assets: Equipment Less Accumulated depreciation 192,000 892,800 2,659,200 172,800 414,000 1,251,2001 1,587,000 133,400 1,545,600 (662,400) 1,545,600 (331,200) FANTASY FOOTBALL Balance Sheets December 31 Year 2021 Increase (Decrease) Amount 2020 $ 192,000 892,800 2,659,200 172,800 414,000 1,251,200 1,587,000 133,400 1,545,600 (662,400) 4,800,000 1,545,600 (331,200) $ 4,600,000 $ Assets Current assets: Cash Accounts receivable Inventory Supplies Long-term assets 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 stockholders' equity 148,800 $ 105,800 4,600 110,400 110,400 1,104,000 1,104,000 1,012,000 2,424,800 4,800,000 1,012,000 2,263,200 4,600,000 $ $