Saved Help Save & Exit Submit Check my work 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 roblem 12-3A Part 1 equired: Prepare a vertical analysis of Sports Unlimited's 2021 and 2020 balance sheets. xpress each amount as a percentage of total assets for that year. (Amounts to be educted should be indicated by a minus sign. Round your percentage answers to1 ecimal place.) SPORTS UNLIMITED Balance Sheets For the years ended December 31 2021 2020 Amount Amount Assets Required information For the years ended December 31 2020 2021 Amount Amount Assets Current assets: 70,400 32,000 71,200 3,600 $ 103,500 46,800 44,550 7,200 Cash Accounts receivable Inventory Prepaid rent Long-term assets: 54,900 117,450 106,200 (30,600) S450,000 Investment in bonds Land Equipment Less: Accumulated depreciation 141,600 102,000 (20,800) S400,000 Total assets Liabilities and Stockholders Equity Current liabilities: S46,800 3,600 10,000 $30,150 7.200 12.150 Accounts payable Interest payable Income tax payable Long-term liabilities 127.600F 138.150 Notes pavable Required information 32,000 71,200 3,600 Accounts receivable Inventory Prepaid rent 46,800 44,550 7,200 Long-term assets: 54,900 117,450 106,200 (30,600) 450,000 Investment in bonds Land Equipment Less: Accumulated depreciation 141,600 102,000 (20,800) $400,000 Total assets Liabilities and Stockholders' Equity Current liabilities: $46,800 3.600 10,000 $30,150 7.200 12.150 Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock 138,150 127,600 144,000 118.350 450,000 144,000 68,000 $400,000 Retained earnings Total liabilities and stockholders' equity Required information Problem 12-3A Perform vertical and horizontal analysis (L012-1, 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 2. Prepare a horizontal analysis of Sports Unlimited's 2021 balance sheet using 2020 as the base year. (Negative amounts and Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) SPORTS UNLIMITED Balance Sheets For the years onded December 31 Year Increase (Decr Amount 2021 2020 Assets Current assets: 103,500 S Cash $ 103,500 S70.400 46.800 Accounts receivable 32.000 Required information $103,500 $ 70,400 32,000 71,200 3,600 Cash Accounts receivable Inventory Prepaid rent 46,800 44,550 7,200 Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation 54,900 117,450 106,200 (30,600) 141,600 102.000 t (20,800) S 450,000 400,000 Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable S 30,150 46,800 3,600 10,000 7.200 Income tax payable 12,150 Long-term liabilities Notes payable 138,150 127,600 Stockholders' equity: 144,000 68,000 S 450,000400,000 144,000 Common stock Retained earnings 118,350 Total liabilities and stockholders equity