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Required information [The following information applies to the questions displayed below] The balance sheets for Fantasy Football for 2021 and 2020 are provided below.
Required information [The following information applies to the questions displayed below] 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.) Assets FANTASY FOOTBALL Balance Shoots December 31 2021 2020 Amount % Amount % Current assets: Cash S 154,000 S 204,000 Accounts receivable 740,000 23.0 760,000 Inventory 1,355,000 1,025,000 Supplies 100.000 75,000
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