Required information 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. Assets Current assets: Cash SPORTS UNLIMITED Balance Sheets For the years ended December 31 Year Increase (Decrease) 2021 2020 Amount % $ 191,200 $ 105,000 $ 86,200 82.1 Accounts receivable 76,800 42,000 34,800 82.9 Inventory 79,200 105,600 (26,400) 25.0 x 9,600 4,800 4,800 1.0 Prepaid rent _ong-term assets: Investment in bonds Land 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 122,400 0 202,400 212,400 165,600 161,400 (47,200) (31,200) $ 800,000 $ 600,000 0 47.1 2.6 (10,000) 4,200 $ 77,600 $ 79,200 (1,600) 2.0 24,000 12,000 23,200 19,200 232,800 169,800 192,000 192,000 Retained earnings 250,400 127,800 Total liabilities and stockholders' equity $ 800,000 $ 600,000