Required: 1. Prepare a vertical analysis of Sports Unlimited's 2021 and 2020 balance sheets. Express each amount as a percentage of to assets for that year. (Amounts to be deducted should be indicated by a minus sign. Round your percentage answers to 1 de place.) SPORTS UNLIMITED Balance Sheets For the years ended December 31 2021 2020 ook Amount Amount rint Assets rences Current assets: 206,150 144,500 Cash 119,700 60,350 Accounts receivable 157 250 102,600 32,300 Inventory 16,150 Prepaid rent Long-term assets: Investment in bonds 129,200 198,550 305,150 Land 211,850 207,400 Equipment Less: Accumulated depreciation (50,350) (40,800) 950,000 %24 850.000 Total assets Liabilities and Stockholders' Equity Current liabilities: Liabilities and Stockholders' Equity Current liabilities: Accounts payable 93,100 122,400 Interest payable 32,300 16,150 Income tax payable 22,800 15,300 Long-term liabilities: Notes payable 281,200 264,350 Stockholders' equity: 323,000 197,600 950,000 Common stock 323,000 Retained earnings 108,800 Total liabilities and stockholders' equity 2$ 850,000 %24 %24 Required: 1. Prepare a vertical analysis of Sports Unlimited's 2021 and 2020 balance sheets. Express each amount as a percentage of to assets for that year. (Amounts to be deducted should be indicated by a minus sign. Round your percentage answers to 1 de place.) SPORTS UNLIMITED Balance Sheets For the years ended December 31 2021 2020 ook Amount Amount rint Assets rences Current assets: 206,150 144,500 Cash 119,700 60,350 Accounts receivable 157 250 102,600 32,300 Inventory 16,150 Prepaid rent Long-term assets: Investment in bonds 129,200 198,550 305,150 Land 211,850 207,400 Equipment Less: Accumulated depreciation (50,350) (40,800) 950,000 %24 850.000 Total assets Liabilities and Stockholders' Equity Current liabilities: Liabilities and Stockholders' Equity Current liabilities: Accounts payable 93,100 122,400 Interest payable 32,300 16,150 Income tax payable 22,800 15,300 Long-term liabilities: Notes payable 281,200 264,350 Stockholders' equity: 323,000 197,600 950,000 Common stock 323,000 Retained earnings 108,800 Total liabilities and stockholders' equity 2$ 850,000 %24 %24