Required information The following information applies to the questions displayed below.] The balance sheets for Company A for Year 2 and Year 1 are presented below. Required: 1. Prepare a vertical analysis of the balance sheet data for Year 2 and Year 1. Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.) COMPANY A Balance Sheet December 31 Year 2 Amount Year 1 Amount 96 % Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ 3,168,000 1.804,000 3,300,000 16,302,000 (2.574,000) $ 22,000,000 S 819.000 1,443,000 2,223,000 16,302,000 (1.287.000) $ 19,500,000 $ 2,496,000 $ 1,936.000 2,158,000 8,580,000 9,328,000 $ 22,000,000 8,580,000 8,424,000 $ 19,500,000 2. Prepare a horizontal analysis for Year 2 using Year 1 as the base year. (Note: If the percentage Increase or decrease cannot be calculated, then leave the cell blank. Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) COMPANY A Balance Sheet December 31 Year Year 2 Increase (Decrease) Amount % Year 1 Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ 3,168,000 $ 819,000 1.804.000 1,443,000 3,300,000 2,223,000 16,302,000 18,302,000 (2.574,000) (1.287,000) $ 22,000,000 $ 19,500,000 $ 1,936,000 2,496,000 2,150,000 8,580,000 8,580,000 9,328,000 8.424,000 $ 22,000,000 $ 19,500,000