The following balance sheets for The Sports Shack are provided.

Required:
1. Prepare a vertical analysis of The Sports Shack 2015 and 2014 balance sheets. Express each amount as a percentage of total assets for that year.
2. Prepare a horizontal analysis of The Sports Shack 2015 balance sheet using 2014 as the base year.

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The Sports Shack Balance Sheets December 31 A ssets 2015 2014 Current assets Cash Accounts receivable Inventory Supplies 680,000 90.000 1,200,000 S218,000 S196,000 880,000 1,250,000 1.100,000 65,000 Long-tem assets Equipment Accumulated depreciation (350.000 (250.000) 900.000 Total assets S3,088,000 S2,891,000 Liabilities and Stockholders' Equitv Current liabilities Accounts payable Interest payable S65,000 S 55,000 6.000 30.000 4.000 40,000 400,000 900.000 Income tax payable Long-tem liabilities Notes payable Stockholders equity: 300,000 900.000 ommon stock Retained eamin 1.679.000 1.600.000 Total liabilities and eqity S3,088,000 S2,891.000 gs