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.) FANTA SY FOOTBALL Balance Sheets December 31 2021 2020 Amount Amount Assets Current assets: 204,000 304,500 987,000 Cash 758.000 2,188.000 Accounts receivable 1,193.500 119.000 Inventory Supplies 180,000 Long-term assets: Equipment 1,120,000 1,120,000 (448,000) 4,000.000 Less: Accumulated depreciation (224,000) $ 3,500,000 Total assets Liabilities and Stockholders' Equity Current liabilities: 124,000 80,500 3,500 84,000 Accounts payable Interest payable Income tax payable 84,000 Long-term liabilities: Notes payable Stockholders' equity 1,148,000 1,148,000 783,000 Common stock 763,000 Retained earnings 1,881.000 1,421,000 $ 3,500.000 $ 4,000,000 Total liabilities and stockholders' equity Problem 12-3B Part 2 2 Prepare a horizontal analysis of Fantasy Football's 2021 balance sheet using 2020 as the base year. (Negatlve amounts and Decreases should be Indicated by a minus sign. Round your percentage answers to 1 decimal place.) FANTA SY FOOTBALL Balance Sheets December 31 Year Increase (Decrease) 2021 2020 Amount Assets Current assets: 304,500 204,000 $ Cash Accounts receivable 758,000 987,000 1,193,500 119.000 Inventory 2,188.000 Supplies 180,000 Long-term assets: 1,120.000 Equipment 1,120.000 Less: Accumulated depreciation (448.000) (224,000) $ 4,000,000 $ 3,500,000 Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable 124,000 $ 80,500 3,500 Interest payable 84,000 Income tax payable 84,000 Long-term liabilities: Notes payable Stockholders' equity 1,148,000 1,148.000 783,000 783,000 Common stock Retained earnings 1,881,000 1,421,000 $ 4,000,000 $ 3,500,000 Total liabilities and stockholders' equity