The following information for Marx Furniture, a retail furniture and design firm. Marx Furniture Balance Sheets December 31 2021 December 31 2020 Assets Current assets Cash $41,160 552,432 Accounts receivable 569,380 445,672 Inventory 5,096,980 4817-190 82,320 78,648 5,789,840 5,393,942 1,070.160 1.160,058 $6,860,000 $6,554,000 Prepaid expenses Total current assets Building and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Bank loan payable Other accrued payables Total current liabilities $610,540 $629.184 679.140 622,630 212,660 314,592 1.502,340 1,566,406 Long-term debt 1.721.860 1,782.688 Total liabilities 3,224,200 31.349,094 Stockholders equity: Common stock 1,351.420 1.351,420 Retained earnings 2.284,380 1.853,486 Total stockholders equity 3,635.800 3.204.906 Total liabilities and stockholders' equity $6,860,000 $6,554,000 Marx Furniture Statement of Earnings Year Ended December 31, 2021 Year Ended December 31, 2020 Net sales $5,528,000 $5,273,000 Cost of goods sold 2,824,808 2,636,500 Gross margin 2,703,192 2.636,500 Operating expenses: Selling expenses 503,048 632,760 General and administrative expenses 829,200 796 223 Total operating expenses 1,332,248 1,428,983 Operating income 1.370.944 1,207,517 Interest expense 138,200 158,190 Income before taxes 1,232,744 1.049,327 Income taxes 246,549 209,865 Net income $986,195 $839462 Perform a vertical analysis of the balance sheets for MarxFurniture Hound answers to 1 demplon 5.23 Vertical Analysis Marx Furniture Balance Sheets December 31. 2021 December 31 2020 Assets Current assets Cush $41160 X $52432 Accounts receivable 569 380 445,672 Inventory 5,096,980 4812190 Prepaidepenses 82320 78.648 Total current 5.789,840 5393.942 Building and equipment, net 1,070.160 1.160.00 $6.860.000 > Totalt S6534000 Liabilities and Stocholders Equity Current Accounts payable 5610540 56299 Bank loan payable 679.140 60 Other scored payable 212660 33393 Total current lite 1502340 566406 1.7200 1792.0 Long-term det 349.014 Totallaties 3224200 Stockholders' equity Common stock 1351420 135 1420 Retained earning 2284380 1.851456 1535300 Total stockholders equity 204.9D 56 360.000 Total abilities and stockholders' equity DU 56.354.000