[The following information applies to the questions displayed below.]

The balance sheets for Fantasy Football for 2018 and 2017 are provided below.

Required:

1. Prepare a vertical analysis of Fantasy Football's 2018 and 2017 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 answers to 1 decimal place.)

FANTASY FOOTBALL
Balance Sheets
December 31
	2018		2017
	Amount	%	Amount	%
Assets
Current assets:
Cash	$208,000		$262,200
Accounts receivable	856,000		999,400
Inventory	1,900,000		1,349,000
Supplies	124,000		87,400
Long-term assets:
Equipment	1,292,000		1,292,000
Less: Accumulated depreciation	(380,000)		(190,000)
Total assets	$4,000,000		$3,800,000
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$168,000		$129,200
Interest payable	0		3,800
Income tax payable	76,000		76,000
Long-term liabilities:
Notes payable	760,000		760,000
Stockholders' equity:
Common stock	786,600		786,600
Retained earnings	2,209,400		2,044,400
Total liabilities and stockholders equity	$4,000,000		$3,800,000

2. Prepare a horizontal analysis of Fantasy Football's 2018 balance sheet using 2017 as the base year. (Negative amounts and Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.)

FANTASY FOOTBALL
Balance Sheets
December 31
	Year		Increase (Decrease)
	2018	2017	Amount	%
Assets
Current assets:
Cash	$208,000	$262,200
Accounts receivable	856,000	999,400
Inventory	1,900,000	1,349,000
Supplies	124,000	87,400
Long-term assets:
Equipment	1,292,000	1,292,000
Less: Accumulated depreciation	(380,000)	(190,000)
Total assets	$4,000,000	$3,800,000
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$168,000	$129,200
Interest payable	0	3,800
Income tax payable	76,000	76,000
Long-term liabilities:
Notes payable	760,000	760,000
Stockholders' equity:
Common stock	786,600	786,600
Retained earnings	2,209,400	2,044,400
Total liabilities and stockholders equity	$4,000,000	$3,800,000