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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
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 ploce.) SPORTS UNLIMITED Balance Sheets For the years ended December 31 2021 Amount % 2020 Amount S $ 95,200 44,400 37,600 63,700 24,150 59.850 2.800 5,600 Assets Current assets Cash Accounts receivable Inventory Prepaid rent Long-term assets Investment in bonds Land Equipment Less Accumulated depreciation Total assets 45 2007 103 200 104 000 (35 200) 400,000 0 125,300 92.050 (17,850 350 000 $ S Required information 0 45,200 103,200 104.000 (35,200) 400,000 125,300 92,050 (17,850) 350,000 $ $ 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 $ $ 26,800 16,800 6,000 38,150 8,400 5,600 143,200 137 200 112,000 95,200 400,000 112,000 48,650 350,000 $ $ 2. Prepare a horizontal analysis of Sports Unlimited's 2021 balance sheet using 2020 as the base year. (Negative amounts and Decreases should be indicated by a minus sign. Round your percentage onswers to 1 decimal place.) SPORTS UNLIMITED Balance Sheets For the years ended December 31 Year 2021 2020 Increase (Decrease) Amount Assets Current assets Cash $ 95,200 $ 44.400 37,600 5,600 63.700 24,150 59,850 2,800 0 Accounts receivable Inventory Prepaid rent Long term assets Investment in bonds Land Equipment Loss Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable intacta 45,200 103,200 104,000 (35 200) 400 000 $ 125 300 92.050 (17850) 350,000 $ $ 38,150 20.800 TA Ant
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