Miller Electronics Corporation Comparative Income Statement For Years Ended December 31, 20-2 and 20-1 Miller Electronics Corporation Comparative Balance Sheet December 31, 20-2 and 20-1 Liabilities Current liabilities: Notes payable Accounts payable Accrued and withheld payroll taxes Total current liabilities $10,340.0 42,459 6,149 $58,948 $5,840 29,853 5,349 $41,042 Stockholders' Equity. Common stock ( $10 par) Retained earnings Total stockholders' equity Total liab. and stockholders' equity Required: Prepare a vertical analysis of the income statement and balance sheet. Show each item on the income statement as a percentage of the net sales for each year. On the balance sheet, show each asset item as a percentage of the total assets and each liability and equity item as a percentage of the total liabilities and stockholders' equity. Round percentages to one decimal place. Vertical Analysis of Comparative Financial Statements A comparative income statement and balance sheet of Miller Electronics Corporation for the last two years are shown
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