Question
The balance sheets for Sports Unlimited for 2024 and 2023 are provided below. Required: 1. Prepare a vertical analysis of Sports Unlimited's 2024 and
The balance sheets for Sports Unlimited for 2024 and 2023 are provided below. Required: 1. Prepare a vertical analysis of Sports Unlimited'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 decim place.) Assets SPORTS UNLIMITED Balance Sheets For the Years Ended December 31 2024 2023 Amount % Amount Current assets Cash: 191,200 105,000 Accounts receivable 76,800 42,000 Inventory 79.200 105,600 Prepaid rent 9,600 4.800 Long-term assets Investment in bonds 122,400 15,500 Land 202,400 212 400 Equipment 165,600 161,400) Less Accumulated depreciation (47,200) (31,200)
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