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 Amount 2020 Amount $ $ Assets Current assets Cash Accounts receivable Inventory Supplies Long-term assets Equipment Less: Accumulated depreciation 148,500 953,500 2,380,500 184,500 312,000 1,070,000 1,448,000 120.000 1,260,000 (432,000) 1.200,000 (216,00011 Prov CD 1 2 of 4 !!! Next > Required information FANTASY FOOTBALL Balance Sheets December 31 2021 2020 Amount % Amount % Assets Current assets: $ $ 148,500 958,500 2,380,500 184,500 312,000 1,076,000 1,448,000 120,000 1,260,000 (432,000) 4,500,000 1,260,000 (216,000) $ 4,000,000 Cash Accounts receivable Inventory Supplies Long-term assets: 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 earings Total liabilities and stockholders equity $ $ 184,500 0 72,000 116,000 4,000 72,000 1,260,000 1,260,000 796,000 2,187,500 $ 4,500,000 796,000 1,752,000 4,000,000 S G 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'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 (Decreaso) Amount % 2020 Assets Current assets: $ 148,500 $ 958,500 2,380,500 184,500 312,000 1,076,000 1.448,000 120,000 Cash Accounts receivable Inventory Supplies Long-term assets: Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities 1,260,000 1,260,000 (432.000) (216,000) $ 4,500,000 $4,000,000 MacBook Air ide BO 888 18: CM NG A $ 4 10 3 % 5 2 8 7 6 8 9 O FANTASY FOOTBALL Balance Sheets December 31 Year Increase (Decrease) Amount % 2021 2020 Assets Current assets: Cash $ Accounts receivable 148,500 $ 958,500 2,380,500 184,500 312,000 1,076,000 1,448,000 120,000 1,260,000 1,260,000 (432,000) (216,000) $ 4,500,000 $4,000,000 Inventory Supplies Long-term assets: 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 $ 184,500 $ o 72,000 116,000 4,000 72,000 1,260.000 1,260,000 796,000 796,000 2,187,500 1,752,000 4,500,000 $4,000,000 $ MacBook Air
