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Required: 1. Prepare a vertical analysis of Sports Unlimited's 2021 and 2020 balance sheets, Express each amount as a percentage of total assets for that

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Required: 1. Prepare a vertical analysis of Sports Unlimited'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.) Balance Sheets For the years ended December 31 2021 Amount % 2020 Amount % $ $ Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation 103,050 62,550 50,850 7,200 78,400 31,600 70,000 3,600 0 54,450 96,300 102,150 (26,550) 450,000 134,400 101,200 (19,200) 400,000 Total assets $ $ $ $ 42,300 7,200 12.150 51,600 3,600 8,000 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 117,900 114,000 144,000 126,450 450,000 144,000 78,800 400,000 $

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