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.) SPORTS UNLIMITED Balance Sheets For the years ended December 31 2021 Amount 2020 Amount Assets Current assets: 126,000 68.400 70,8007 9,000 86,000 35,500 93,500 4,500 Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation EUR 77,400 159,000 142,800 (53.400) 600,000 168,000 139,500 (27.000) 500.000 Total assets $ Liabilities and Stockholders' Equity Required information Current assets: Cash $ $ Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds 126,000 68,400 70,800 9,000 86,000 35,500 93,500 4,500 Land 77,400 159,000 142,800 (53,400) 600,000 OP 168,000 139,500 (27,000) 500,000 $ 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 36,600 24,000 16,800 53,500 12,000 13,500 178,800 124,500 234,000 109,800 600,000 234,000 62,500 500,000 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 answers to 1 decimal place.) SPORTS UNLIMITED Balance Sheets For the years ended December 31 Increase (Decrease) Amount 2021 2020 Assets Current assets: Cash $ Accounts receivable 126,000 68,400 70,800 9,000 86,000 35,500 93,500 4.500 Inventory Prepaid rent Long-term assets Investment in bonds Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity 77.400 159,000 142.800 (53,400) 600,000 168,000 139,500 (27.000) 500.000 $ Current liabilities Antenas SA AOS 360 Required information UURT GSSC. 126,000 68,400 70.800 9,000 86,000 35,500 93,500 4,500 77,400 159,000 142,800 (53,400) 600,000 168,000 139,500 (27,000) 500,000 $ 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 $ 36,600 24,000 16,800 12,000 13,500 178,800 124,500 234,000 109,800 600,000 234,000 62,500 500,000 $ $
