Prepare a vertical analysis of Fantasy Football's 2024 and 2023 balance sheets. Express each amount as a
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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.(Amounts to be deducted should be indicated by a minus sign. Round your percentage answers to 1 decimal place.)
| Balance Sheets | ||||||||
| 31-Dec | ||||||||
| 2024 | 2023 | |||||||
| amount | % | amount | % | |||||
| assets | ||||||||
| current assets: | ||||||||
| cash | $204,000 | $304,500 | ||||||
| accounts receivable | 756,000 | 987,000 | ||||||
| inventory | 2.,188,000 | 1,193,500 | ||||||
| supplies | 180,000 | 119,000 | ||||||
| long-term assets: | ||||||||
| equipment | 1,120,000 | 14-Jun | ||||||
| less: accumalted depreciation | -448,000 | -224,000 | ||||||
| total assets | 4,000,000 | 3,500,000 | ||||||
| Liabilities and Stockholders Equity | ||||||||
| Current Liablilities: | ||||||||
| Accounts payable | $124,000 | $80,500 | ||||||
| interest payable | 0 | $3,500 | ||||||
| income tax payable | 84,000 | 84,000 | ||||||
| Long-term liabilities: | ||||||||
| Notes payable | 1,148,000 | 1,148,000 | ||||||
| Stockholders equity: | ||||||||
| common stock | 763,000 | 763,000 | ||||||
| retained earnings | 1,881,000 | 1,421,000 | ||||||
| Total liabilities and stockholders equity | 4,000,000 | 3,500,000 | ||||||
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