Round your answers to 2 decimal places. (.e., 2345 should be entered as 23.45).) % SOLOMON COMPANY Vertical Analysis of Balance Sheets Year 4 Year 3 Amount Percentage of Percentage of Amount Total Total Assets Current assets Cash $ 16,400 % $ 12,000 Marketable securities 21,300 7,600 Accounts receivable (net) 54 100 46,700 Inventories 135,200 143,600 Prepaid items 25,400 10.700 Total current assets 252.400 220,600 Investments 27 600 21,500 Plant (net) 271,500 255 700 Land 29,500 24,000 Total long-term assets 328,600 301,200 Total assets $ 581,000 $ 521,800 Liabilities and stockholders' equity Liabilities Culrent liabuities Notes payable $ 15,000 5200 Accounts payable 112.200 99 800 Salaries payable 19.600 15,000 Total current liabilities 146,800 120.000 Noncurrent liabilities Bonds payable 98,600 98,600 Other 30.100 26,100 Total noncurrent liabilities 128,700 124,700 Total liabilities 275,500 244.700 Stockholders' equity Preferred stock (par value $10,4% cumulative, 66,000 65,000 nonparticipating: 6,600 shares authorized and issued) Common stock (no par: 50.000 shares authorized 66,000 10.000 shares issued) 66.000 Retained earnings 173,500 145.100 Total stockholders' equity 305,500 277.100 Total liabilities & stockholders equity 5 581.000 % $ 521,800 % $ Analysis Ine Sim Prepare a vertical analysis of an income statements for Year 4 and Year 3. (Percentages may not add exactly du 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 Percentage of Amount Total Year 3 Percentage of Amount Total % $ 230,500 9,500 240,000 % $ 211,500 5,900 217 400 Revenues Sales (net) Other revenues Total revenues Expenses Cost of goods sold Selling, general, and administrative expense Interest expense Income tax expense Total expenses Net Income 118,600 53.100 7.200 22,000 200,900 $ 39,100 102,900 49.100 6.400 21,000 179,400 $ 38,000 %