Vertical analysis of balance sheet Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $2,800,000 $1,840,000 Property, plant, and equipment 5,200,000 6,072,000) Intangible assets 2,000,000 1,288,000 Current liabilities 1,800,000 1,380,000 Long-term liabilities 3,600,000 3,680,000 Common stock Retained earnings 980,000 3,620,000 920,000 3,220,000 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. When required, round percentages to one decimal place. Alvarez Company Comparative Balance Sheet For the Years Ended December 31 Current Year Current Year Previous Previous Line Item Description Amount Percent Year Amount Year Percent Current assets $2,800,000 % $1,840,000 Property, plant, and equipment 5,200,000 % 6,072,000 300.000 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. When required, round percentages to one decimal place. Alvarez Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous Year Year Line Item Description Amount Percent Year Amount Year Percent Current assets $2,800,000 % $1,840,000 % Property, plant, and equipment 5,200,000 % 6,072,000 % Intangible assets 2,000,000 % 1,288,000 % Total assets $10,000,000 % $9,200,000 % Current liabilities $1,800,000 % $1,380,000 % Long-term liabilities 3,600,000 % 3,680,000 % Common stock 980,000 9 920,000 % Retained earnings 3,620,000 % 3,220,000 96 Total liabilities and stockholders' equity $10,000,000 % $9,200,000