Required Prepare a vertical analysis of both the balance sheets and income statements for Year 4 and Year 3. Complete this question by entering your answers in the tabs below. Balance Sheet Income Statement Prepare a vertical analysis of the balance sheets for Year 4 and Year 3. Note: Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45). Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total long-term assets Total assets Liabilities and stockholders' equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable FANNING COMPANY Vertical Analysis of Balance Sheets Amount Year 4 Percentage of Total Amount Year 3 Percentage of Total $ 16,900 21,200 % $ 13,100 % 7,700 54,600 47,900 135,800 144,400 26,900 11,600 255,400 224,700 27,900 20,800 271,300 256,100 29,100 25,100 328,300 302,000 $ 583,700 $ 526,700 $ 16,200 113,700 19,800 149,700 $ 5,500 98,500 13,800 117,800 Other Total noncurrent liabilities Total liabilities 98,900 98,900 31,900 25,400 130,800 124,300 280,500 242,100 Stockholders' equity Preferred stock (par value $10,4% cumulative, 71,000 71,000 nonparticipating: 7,100 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) 71,000 71,000 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 161,200 142,600 303,200 284,600 $ 583,700 % $ 526,700 < Balance Sheet Income Statement > Required Prepare a vertical analysis of both the balance sheets and Income statements for Year 4 and Year 3. Complete this question by entering your answers in the tabs below. Balance Sheet Income Statement Prepare a vertical analysis of the income statements for Year 4 and Year 3. Note: Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45). Revenues Sales (net) Other revenues FANNING COMPANY Vertical Analysis of Income Statements Year 4 Year 3 Amount Percentage of Total Amount Percentage of Total $ 230,300 8,800 239,100 % $ 211,700 % 6,800 218,500 Total revenues Expenses Cost of goods sold 118,400 101,500 Selling, general, and administrative expense 53,800 49,500 Interest expense 6,000 5,200 Income tax expense 22,200 21,200 Total expenses 200,400 177,400 Net income $ 38,700 % $ 41,100 < Balance Sheet Income Statement >