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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.) SPORTS UNLIMITED Balance Sheets For the years ended December 31 2021 2020 Amount % Amount % Assets Current assets: Cash $ $ 104,400 176,400 72,800 37,200 81,200 25,200 112,800 12,600 Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land 81,200 0 165,900 208,200 158,200 (60,900) 700,000 157,200 (32,400) 600,000 $ | Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable $ $ 66,500 16,800 10,500 79,200 8,400 6,000 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.) SPORTS UNLIMITED Balance Sheets For the years ended December 31 2021 2020 Amount % Amount % Assets Current assets: Cash $ $ 104,400 176,400 72,800 37,200 81,200 25,200 112,800 12,600 Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land 81,200 0 165,900 208,200 158,200 (60,900) 700,000 157,200 (32,400) 600,000 $ | Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable $ $ 66,500 16,800 10,500 79,200 8,400 6,000

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