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Required information The balance sheets for Fantasy Football for 2021 and 2020 are provided below. Required: 1. Prepare a vertical analysis of Fantasy Football's 2021
Required information The balance sheets for Fantasy Football for 2021 and 2020 are provided below. 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: S IS Cash Accounts receivable Inventory Supplies Long-term assets: 206,400 1,032,000 2,424,000 187,200 281,600 1,249,600 1,504,800 96,800 1,584,000 (633,600) 4,800,000 1,584,000 (316,800) 4,400,000 $ $ S 216.000 $ 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 127,600 4,400 52,800 1,267,200 1,267,200 893,200 2,370,800 4,800,000 893,200 2,054,800 4,400,000 $ $
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