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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
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 2020 FANTASY FOOTBALL Balance Sheets December 31 2021 2020 Amount % Amount % Assets $ $ 189,000 819,000 2,344,500 202,500 252,000 1,205,400 1,428,000 117,600 Current assets: Cash Accounts receivable Inventory Supplies Long-term assets Equipment Loss: Accumulated depreciation Total assots Liabilities and Stockholders' Equity Current liabilities: 1,449,000 (504,000) $ 4,500,000 1,449,000 (252,000) $ 4,200,000 1,449,000 (504,000) $ 4,500,000 1,449,000 (252,000) $ 4,200,000 $ 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 157,500 0 63,000 121,800 4,200 63,000 1,386,000 1,386,000 945,000 1,948,500 $ 4,500,000 945,000 1,680,000 $ 4,200,000
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