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 159,000 597,000 1,632,000 132,000 217.500 660,000 907,500 85,000 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 780,000 (300,000) 3,000,000 780,000 (150,000) 2,500,000 S $ $ 111,000 $ 60,000 132,000 85,000 t 1 of 2 780,000 (300,000) 3,000,000 780,000 (150,000) 2,500,000 $ $ eBook 111,000 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 J $ 60,000 2,500 75,000 75,000 315,000 315,000 son 502,500 1.996,500 3,000,000 502,500 1,545,000 2,500,000 $ $