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 % $ $ 165,000 618,000 1,527,000 135,000 210,000 627 500 865,000 70,000 900,000 (345,000) $ 3,000,000 900,000 (172,500) $ 2,500,000 Assets Current assets Cash Accounts receivabla 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 labistios: Notes payable Stockholders' equity Common stock Retained earnings Total liabilitos and stockholders equity s $ 75,000 0 75,000 65,000 2,500 75,000 495,000 495.000 570,000 1.785.000 $ 3,000,000 570,000 1,292 500 $ 2,500,000 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 2021 Increase (Decrease) Amount 2020 Assets Current assets: Cash Accounts receivable $ 165,000 $ 618,000 1,527,000 135,000 210.000 627,500 865,000 70,000 900,000 900,000 (345,000) (172,500) $ 3,000,000 $2,500,000 $ Inventory Supplies Long-term assets Equipment Loss: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term cabilities: Notes payable Stockholders equity Common stock Retained oamings Total liabilitos and stockholders oquity 75,000 $ 0 75,000 65,000 2,500 75,000 495.000 495,000 570,000 570,000 1.785,000 1,292,500 $ 3,000,000 $2,500,000