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! Required information Problem 12-3B Perform vertical and horizontal analysis (L012-1, 12-2) [The following information applies to the questions displayed below) The balance sheets for
! Required information Problem 12-3B Perform vertical and horizontal analysis (L012-1, 12-2) [The following information applies to the questions displayed below) The balance sheets for Fantasy Football for 2021 and 2020 are provided below. Problem 12-3B Part 1 Required: 1. Prepare a vertical analysis of Fantasy Football'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.) FANTASY FOOTBALL Balance Sheets December 31 2021 2020 Amount Arnount Assets Current assets Cash $ $ Accounts receivable 154,000 740,000 1,355,000 100,000 204,000 760,000 1,025,000 75,000 Inventory Supplies Long-term assets Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Interest payable 1,100,000 (400,000) $ 3,049,000 1,100,000 (200,000) $ 2,964,000 $ $ 105,000 0 81,000 4,000 rinn 4 na Required information LUNYTT 1,100,000 (400,000) $ 3,049,000 1,100,000 (200,000) $ 2,964,000 105,000 0 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 81,000 4,000 35,000 35,000 500.000 500,000 600,000 1,809,000 $ 3,049,000 600,000 1,744.000 $ 2,964,000 0 Required information Problem 12-3B Perform vertical and horizontal analysis (L012-1, 12-2) [The following information applies to the questions displayed below! The balance sheets for Fantasy Football for 2021 and 2020 are provided below. Problem 12-3B Part 2 2. Prepare a horizontal analysis of Fantasy Football 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.) 2 Prepare a horizontal analysis of Fantasy Football'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.) FANTASY FOOTBALL Balance Sheets December 31 Year 2021 Increase (Decrease) Amount 2020 $ Assets Current assets Cash Accounts receivable Inventory Supplies Long-term assets Equipment Less Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities 154,000 $ 740 000 1.355.000 100.000 204.000 760,000 1,025,000 75,000 1.100,000 1.100.000 (400.000) (200,000) $3.049,000 5 2964,000 w $ 3,049,000 $ 2,964,000 $ 105,000 $ 0 81,000 4,000 35,000 35,000 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 500,000 500,000 600,000 1,809,000 $ 3,049,000 600,000 1,744,000 2,964,000
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