Comparative balance sheet data is available for Ellis Enterprises:
Required
Perform horizontal and vertical analyses on each of the items above. Round percentages to one decimal point (i.e., 10.1%). If generating assets through debt is considered more risky than generating assets through equity, is Ellis more or less risky in 2012?

2012 2011 Total assets $850,000 $700,000 Total liabilities $240,000 $280,000 Total equity $610,000 $420,000