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. Analysis Bal Sheet Analysis Inc Stmt Prepare a vertical analysis of the balance sheets for Year 4 and Year 3. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).) SOLOMON COMPANY Vertical Analysis of Balance Sheets Year 4 Amount Percentage of Total Year 3 Amount Percentage of Total Assets Current assets % % $ 17,600 21,100 54,300 135,000 26,100 254,100 27,200 270,900 29,100 327,200 $ 581,300 $ 12,000 7.100 47,300 143,600 11,500 221,500 20,400 256.900 24,000 301,300 $ 522,800 $ 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 Other Total noncurrent liabilities Total liabilities Stockholders' equity Preferred stock (par value $10,4% cumulative, nonparticipating: 6,700 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings Total stockholders' equity Total liabilities & stockholders' equity $ 15,000 112,300 19,900 147,200 5,500 98,100 14,600 118,200 98,500 30,800 129,300 276,500 98,500 25,700 124,200 242,400 67,000 67,000 67,000 67,000 170,800 304,800 $ 581,300 146,400 280,400 $ 522,800 % % 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. Analysis Bal Analysis Inc Sheet Stmt Prepare a vertical analysis of an income statements for Year 4 and Year 3. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).) SOLOMON COMPANY Vertical Analysis of Income Statements Year 4 Year 3 Amount Percentage of Amount Percentage of Total Total Revenues Sales (net) $ 230,900 % $ 210,100 % Other revenues 9,500 5,300 Total revenues 240,400 215,400 Expenses Cost of goods sold 119,600 102,400 Selling, general, and administrative expense 53,500 49,700 Interest expense 8,000 7,200 Income tax expense 22,100 21,100 Total expenses 203,200 180,400 Net income $ 37,200 % $ 35,000 %