Required information 2 Problem 12-3A Perform vertical and horizontal analysis (LO12-1, 12-2) The following information applies to the questions displayed below. The balance sheets for Sports Unlimited for 2021 and 2020 are provided below. Problem 12-3A Part 2 ok 2. Prepare a horizontal analysis of Sports Unlimited's 2021 balance sheet using 2020 as the base year. (Negative amounts an Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) SPORTS UNLIMITED nces Balance Sheets For the years ended December 31 Increase (Decrease) Year 2021 2020 Amount % Assets Current assets 103,500 S 70,400 32,000 Cash 46,800 Accounts receivable 71,200 44,550 Inventory 7,200 3,600 Prepaid rent Long-term assets 54,900 0 Investment in bonds 117.450 141,600 Land 102,000 106.200 Equipment (30,600) (20,800) Less: Accumulated depreciation (20,800) Less: Accumulated depreciation (30,600) 450,000 $ 400,000 Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable 46,800 30,150 Interest payable 7,200 3,600 Income tax payable 12,150 10,000 Long-term liabilities: Notes payable 127,600 138,150 Stockholders' equity Common stock 144,000 144,000 Retained earnings 68,000 400,000 118,350 450,000 S Total liabilites and stockholders equity S