X, INC. Adjusted Trial Balance, December 31, 2020
Account Title		Debits	Credits
Cash		$186,000
Accounts Receivable		$245,000
Inventory		$372,000
Prepaid Rent		$24,000
Investments		$100,000
Land		$300,000
Equipment		$150,000
Accumulated Depr.			$60,000
Accounts Payable			$98,000
Interest Payable			$22,000
Income Tax Payable			$65,000
Salaries Payable			$-
Deferred Revenue			$12,000
Notes Payable (3 yrs, 10% Int)			$235,000
Common Stock			$400,000
Dividends		$55,000
Retained Earnings			$94,150
Net Sales			$1,700,000
Gain on Sale of Land			$-
Cost of Good Sold		$755,000
Advertising Expenses		$22,000
Salary Expense		$242,000
Depreciation Expense		$28,000
Insurance Expense		$12,400
Rent Expenses		$108,000
Interest Expenses		$12,750
Income Tax Expenses		$74,000
		$2,686,150	$2,686,150

Prepare a vertical analysis of X, Inc.'s 2021 and 2020 balance sheets. Express each amount as a percentage of total assets for that year.
Prepare a horizontal analysis of X Inc.s 2021 balance sheet using 2020 as the base year.
Calculate the listed ratios in tab FIN ACCT III and based on the calculations make a comment about companies financial performance.