The balance sheets for Sports Unlimited for 2021 and 2020 are provided below. Required: 1. Prepare a vertical analysis of Sports Unlimited's 2021 and 2020 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.) des SPORTS UNLIMITED Balance Sheets For the years ended December 31 2021 Amount $ $ 225,000 100,800 90,000 14.400 156,000 53,600 138,400 7,2001 1 Assets Current assets: Cash S . Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: 101,700 183.600 232.2007 (47,700)| 900,000 0 280.800 208,800 (44,800) 800,000 $ 11 $ $ 54,000 14,400 22.500 93,600 7.2001 12,800 1 287.100 248,800 12 of 2 Next > 2. Prepare a horizontal analysis of Sports Unlimited's 2021 balance sheet using 2020 as the base year. (Negative amounts and Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) 1 TS SPORTS UNLIMITED Balance Sheets For the years ended December 31 Year 2021 2020 Increase (Decrease) Amount % Assets Current assets Cash $ 225,000 100 800 90,000 14.400 156,000 53,600 138,400 7.200 101.700 183,600 232,200 (47,700) 900,000 ol 280,000/ 208,800 (44,800) 800.000 $ $ Accounts receivable Inventory Prepaid rent Long-term assets Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity $ $ 54,000 14.400 22,500 93,6001 7.2007 12,800 287,100 248,800 280,800 241,200 900,000 280,800 156,800 800,000 $ $1