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 Property, plant, and equipment Intangible assets Current liabilities Long-term liabilities Common stock Retained earnings $2,500,000 5,600,000 1,900,000 2,000,000 3,400,000 $1,840,000 6,072,000 1,288,000 1,380,000 3,680,000 920,000 3,220,000 920,000 3,680,000 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. Round percentages to one decimal place. Alvaraz Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous Year Amount Year Percent Year Amount Year Percent Current assets $2,500,000 96 $1,840,000 96 Property, plant, and equipment 5,600,000 6,072,000 90 TA 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. Round percentages to one decimal place. Alvaraz Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous Year Amount Year Percent Year Amount Year Percent Current assets $2,500,000 96 $1,840,000 % 5,600,000 Property, plant, and equipment 96 6,072,000 946 1,900,000 Intangible assets 96 1,288,000 %% Total assets $10,000,000 96 $9,200,000 9% Current liabilities $2,000,000 96 $1,380,000 % Long-term liabilities 3,400,000 96 3,680,000 % Common stock 920,000 96 920,000 % Retained earnings 3,680,000 96 3,220,000 9 Total liabilities and stockholders' equity $10,000,000 96 $9,200,000 %