Required information [The following information applies to the questions displayed below] The balance sheets for Fantasy Football for 2024 and 2023 are provided below. Required: 1. Prepare a vertical analysis of Fantasy Football's 2024 and 2023 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 \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{ Balance Sheets } \\ \hline \multicolumn{7}{|c|}{ December 31} \\ \hline & \multicolumn{3}{|c|}{2024} & \multicolumn{3}{|c|}{2023} \\ \hline & \multicolumn{2}{|c|}{ Amount } & % & \multicolumn{2}{|r|}{ Amount } & % \\ \hline \multicolumn{7}{|l|}{ Assets } \\ \hline \multicolumn{7}{|l|}{ Current assets: } \\ \hline Cash & $ & 230,400 & & $ & 334,400 & \\ \hline Accounts receivable & & 998,400 & & & 1,245,200 & \\ \hline Inventory & & 2,524,800 & & & 1,500,400 & \\ \hline Supplies & & 148,800 & & & 132,000 & \\ \hline \multicolumn{7}{|l|}{ Long-term assets: } \\ \hline Equipment & & 1,478,400 & & & 1,478,400 & \\ \hline Less: Accumulated depreciation & & (580,800) & & & (290,400) & \\ \hline Total assets & $ & 4,800,000 & & & 4,400,000 & \\ \hline \multicolumn{7}{|l|}{ Liabilities and Stockholders' Equity } \\ \hline \multicolumn{7}{|l|}{ Current liabilities: } \\ \hline Accounts payable & $ & 196,800 & & $ & 149,600 & \\ \hline Interest payable & & 0 & & & 4,400 & \\ \hline Income tax payable & & 105,600 & & & 105,600 & \\ \hline \multicolumn{7}{|l|}{ Long-term liabilities: } \\ \hline Notes payable & & 1,108,800 & & & 1,108,800 & \\ \hline \multicolumn{7}{|l|}{ Stockholders' equity: } \\ \hline Common stock & & 915,200 & & & 915,200 & \\ \hline Retained earnings & & 2,473,600 & & & 2,116,400 & \\ \hline Total liabilities and stockholders' equity & $ & 4,800,000 | & & $ & 4,400,000 & \\ \hline \end{tabular}