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5 Required Information [The following information applies to the questions displayed below.] Part 1 of...

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Accounting

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5 Required Information [The following information applies to the questions displayed below.] Part 1 of 2 The balance sheets for Sports Unlimited for 2021 and 2020 are provided below. . . eBook Required: 1. Prepare a vertical analysis of Sports Unlimited's 2021 and 2020 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 percentage answers to 1 decimal place.) . Print SPORTS UNLIMITED Balance Sheets For the years ended December 31 2021 2020 Amount % Amount % $ 103,500 $ 70.400 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land 48.800 44.550 7.200 32.000 71.200 3.800 0 54.900 117.450 108,200 (30,600) 450.000 141.800 102.000 (20,800) 400.000 $ $ Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: $ E $ 48.800 30.150 7.200 12.150 3.600 10.000 138. 150 127.800 Common stock Retained earnings Total liabilities and stockholders' equity 144.000 118.350 144.000 68,000 400.000 $ 450.000 $

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