Required: 1. Prepare a vertical analysis of Sports Unlimited's 2018 and 2017 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 answers to 1 decimal place.) SPORTS UNLIMITED Balance Sheets December 31 2018 2017 Amount % Amount % Assets Current assets: $ $ 103,500 45,800 44.550 Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds 70,400 32,000 71,200 3,600 7,200 54,900 117,450 106,200 (30,800 450,000 0 141,600 102,000 (20,800 400,000 $ $ $ $ Land Equipment Less: Accumulated depreciation Total assels Liabilities and Stockholders' Equity ... Current liabilities: Accounts payable Interest payable __ Income tax payable Long-term liabilities: Notas payable Stockholders' equity: Cornmon stock Retained earnings Tolal liabilities and stockholders' equily 30,150 7,200 12,150 46,800 3,600 10,000 138,150 127,600 144,000 144,000 118,350 450,000 68,000 400,000 $ $ 2. Prepare a horizontal analysis of Sports Unlimited's 2018 balance sheet using 2017 as the base year. (Negative amounts and Decreases should be indicated by a minus sign.) SPORTS UNLIMITED Balance Sheets December 31 Year Increase (Decrease) Amount % 2018 2017 $ 231 103,500 $ 46,800 44,550 7,200 70,400 $ 32,000 71,200 3,600 54,900 0 117,450 141,600 106,200 (30,600) Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land 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 102,000 (20,800) 400,000 $ 450,000 $ $ 30,150 $ 7.200 12,150 46,800 3,600 10,000 138,150 127,600 144,000 118,350 144,000 68,000 400,000 $ 450,000 S