Required information Problem 12-3A (Algo) Perform vertical and horizontal analysis (LO12-1, 12-2) [The following information applies to the questions displayed below.] The balance sheets for Sports Unlimited for 2024 and 2023 are provided below. Problem 12-3A (Algo) Part 1 Required: 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.) Assets Current assets Cash SPORTS UNLIMITED Balance Sheets For the Years Ended December 31 2024 Amount 2023 Amount $ 232,200 $ 136,500 Accounts receivable 91,800 60,000 Inventory Prepaid rent Long-term assets Investment in bonds Land Equipment 85,500 147,750 13,500 6,750 117,000 15,300 206,550 246,750 201,150 189,000 Less Accumulated depreciation (47,700) (36,750) Total assets $ 900,000 $ 765,300 Liabilities and Stockholders' Equity Current liabilities Accounts payable Interest payable Income tax payable Long-term liabilities: $ 75,600 104,250 27,000 13,500 21,600 21,000 Investment in bonds Land Equipment 117,000 206,550 15,300 246,750 201,150 189,000 Less Accumulated depreciation (47,700) (36,750) Total assets $ 900,000 $ 765,300 Liabilities and Stockholders' Equity Current liabilities Accounts payable Interest payable $ 75,600 $ 104,250 27,000 13,500 Income tax payable Long-term liabilities Notes payable Stockholders' equity Common stock. 21,600 21,000 263,700 193,500 247,500 247,500 Retained earnings 264,600 185,550 Total liabilities and stockholders' equity $ 900,000 $ 765,300