Problem 12-3B Part 1 Required: 1. Prepare a vertical analysis of Fantasy Football'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.) FANTASY FOOTBALL Balance Sheets December 31 2021 Amount 2020 % Amount $ $ 208,000 856,000 1.900,000 124.000 262,200 999,400 1,349,000 87,400 Assets Current assets Cash Accounts receivable Inventory Supplies Long-term assets Equipment Less. Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current intes Accounts payable Interest payable Income tax payable Long-tais Notes payat 1.292,000 (380,000) 54,000,000 1.292.000 (190,000) $ 3,800,000 $ S 168,000 0 76,000 129.200 3.800 70,000 760,000 750,000 Required information Amount % Amount $ $ + 208,000 856,000 1,900,000 124,000 262,200 999,400 1,349,000 87,400 Assets Current assets: Cash Accounts receivable Inventory Supplies Long-term assets: Equipment Less: Accumulated depreciation Total assets 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 1,292,000 (380,000) $ 4,000,000 1,292,000 (190,000) $ 3,800,000 $ 168,000 0 76,000 129,200 3,800 76,000 760,000 760,000 786,600 2.209.400 $ 4,000,000 786,600 2,044,400 $ 3,800,000