Required information Problem 12-3A (Algo) 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 2024 and 2023 are provided below. Problem 12-3A (Algo) Part 1 Required: 1. Prepare a vertical analysis of Sports Unlimited's 2024 and 2023 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.) SPORTS UNLIMITED Balance Sheets For the Years Ended December 31 Year 2024 2023 Amount Increase (Decrease) % Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment 225,000 $ 156,000 100,800 53,600 90,000 138,400 14,400 7,200 101,700 15,800 183,600 280,800 232,200 208,800 Less: Accumulated depreciation (47,700) (44,800) Total assets 900,000 $ 815,800 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable 54,000 $ 93,600 14,400 7,200 22,500 12,800 Income tax payable Long-term liabilities: Notes payable Stockholders' equity: 287,100 248,800 Common stock 280,800 280,800 Retained earnings 241,200 172,600 Total liabilities and stockholders' equity $ 900,000 $ 815,800