Required information 1. Prepare a vertical analysis of Sports Unlimited's 2024 and 2023 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 Assets Current assets: Cash 2024 Amount 2023 Amount % $ 176,400 $ 104,400 Accounts receivable 72,800 37,200 Inventory 81,200 112,800 25,200 12,600 Prepaid rent Long-term assets: Investment in bonds Land Equipment 81,200 15,900 165,900 208,200 158,200 157,200 Less: Accumulated depreciation (60,900) (32,400) Total assets $ 700,000 $ 615,900 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable $ 66,500 $ 16,800 79,200 8,400 Dray 9 10 of 10 Next > Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Amount Amount % $ 176,400 $ 104,400 72,800 37,200 81,200 112,800 25,200 12,600 81,200 15,900 165,900 208,200 Equipment 158,200 157,200 Less: Accumulated depreciation (60,900) (32,400) Hotal assets $ 700,000 $ 615,900 Jabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable $ 66,500 $ 79,200 16,800 8,400 10,500 6,000 Income tax payable ong-term liabilities: Notes payable tockholders' equity Common stock 211,400 169,800 210,000 210,000 Retained earnings 184,800 142,500 4 otal liabilities and stockholders' equity $ 700,000 $ 615,900