The balance sheets for Fantasy Football for 2024 and 2023 are provided below.

Required:
1. Prepare a vertical analysis of Fantasy Football’s 2024 and 2023 balance sheets. Express each amount as a percentage of total assets for that year.
2. Prepare a horizontal analysis of Fantasy Football’s 2024 balance sheet using 2023 as the base year.

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Assets Current assets: Cash Accounts receivable Inventory Supplies Long-term assets: Equipment Less: Accumulated depreciation Total assets FANTASY FOOTBALL Balance Sheets December 31 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 2024 $ 208,000 856,000 1,900,000 124,000 1,292,000 (380,000) $4,000,000 $ 168,000 0 76,000 760,000 786,600 2,209,400 $4,000,000 2023 $ 262,200 999,400 1,349,000 87,400 1,292,000 (190,000) $3,800,000 $ 129,200 3,800 76,000 760,000 786,600 2,044,400 $3,800,000