Required: 1. Prepare a vertical analysis ofSports Unlimited's 201i and 2017 balance sheets. Express each amount as a percentage uftutal assets for that year. [Amounts to be deducted should he Indlcalied by a mlnus slgn. Round your answers tot declmal place.) Assets Current assets: Cash $ 103500 $ 70400 Accounts reeeivabie 46300 32000 Inventory 44550 71200 Prepaid rent 7200 1600 Lonrlenn asmls: Investment in bonds 54800 0 Land 111450 141'600 Equipment 106200 102000 Less: Accumulated depreciation (30,600) (20,300) Total assets $ 450000 $ 400000 Llahilles and Sbckhulders' Equity Current liabilities: Accounts payable $ 30150 $ 46000 Interest payable 1200 3600 Income tax payable 12150 10000 Long-tenn liabilities: Melee payable 138'150 121600 Sleekhulders' equity: Common stock 144000 144000 Retained eaminga 1183550 68000 Total liabiiities and stockholders' equity $ 450000 $ 400000 2. Prepare a horizontal analysis of Sparta Unlimited'e 2018 balance sheet using 2017 as the base year. (Negatlve amount: and Decreases should be Indlualued by a mlnue Ilgn. Round your percentage answer: to 1 declmal place.] Assets Current assets: Cash $ 103.500 $ 70.400 Accounts receivable 46.500 32.000 Inventory 44.550 71.200 Prepaid rent 1200 3.600 Long-lam assets: Inveslmenl in bonds 54.900 0 Land 11?.450 141.600 Equipment 100.200 102.000 Less: Accumulated depreciation (30,600) (20,800) Telalaseeia $ 450.000 $ 400.000 Liabilities and Stockholders' Equity Current liabHities: Accounts payable 3. 30.150 5 45.000 Interest payable 1200 3.600 Income tax payable 12.150 10.000 Long-lam liabilities: Males payable 130.150 127.600 Stackhnlders' equity: Gammon slack 144.000 144.000 Retained earnings 118.350 68.000 Talal \\iahililies and slodrhulders' equity $ 450.000 $ 400.000 mmmmmmwmwmmmmmnsdspmmm} Income sta'hernen and balance Shae-E dataformnual Gaming Systems are provided below. Net Eula $3,545,000 $3,071,000 Cast a! sand: soId 2,487,000 1.357.000 Ems: pmt 1,058,000 1314.000 Ebcpenses: Opening expenses 962,000 865,000 Deplechtlon amuse 31,000 30,500 Loss nn sale uund 0 8,700 Interest expense 21,5!10 3,500 Income tax expeme 8,700 51,500 Tutal apenses 1,025,211) 97m I'm Income S 23,000 $ 139,300 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2019 20\" 2017 Assets Current assess: Cash 5 211,500 $193,000 $151,000 Accounls Iecelvable 85,500 88,000 67,000 Invemory 135,500 112,000 142,000 Prepald rem 14300 12.700 6.340 Longiterm assets: Investment in bonds 112,000 112,000 0 Land 307,000 217,000 247,000 Equipmem 307,000 277,000 217,000 Less: Accumulated depreclaon [116,500] (79,500] (49,000] Total assess $1,056,700 $932,200 $751,340 Llahilllles and Stockholders' Equity Current llalees: Accounts payable 3 132,600 5 73,000 $129,940 Interest payable 11,100 7,400 3.700 Income tax payable 12,700 18,500 14,700 ngrterm llablllrjes: Notes payable 470,000 292,000 232,000 Stockholders equlty'. Common smck 307,000 307,000 307,000 Remlned earnlngs 123.300 234.300 94.500 Total Ilahllltles and stockholders equlty $1,056,700 $932,200 $751,840 Required: 1. Calculate the following risk ratios for 2018 and 2019: {Round your answers to 1 decimal place.) Reoeivables tummer ratio Inventory turnover ratio Current ratio Debt to equity ratio 2. Calculate the following pmlabillty ratios for 2016 and 2019: {Round your answers to 1 declmsl place] Grow prot rao Return on assets Prot margin met turnover | % References eBcolr 8. Reeources