please help fill in the blanksRequired: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.)Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. AssetsCurrent assets:CashAccounts receivableInventoryPrepaid rentLong-term assets:Investment in bondsLandEquipmentLess: Accumulated depreciationTotal assetsLiabilities and Stockholders' EquityCurrent liabilities:Accounts payableInterest payableIncome tax payableLong-term liabilities:Notes payableStockholders' equity:Common stockRetained earningsTotal liabilities and stockholders' equityBalance SheetsFor the Years Ended December 312024Amount$SS$125,40066,00053,90022,00060,500137,500122,100(37,400)550,00048,40011,0008,250171,600165,000145,750550,000$$$Amount202394,00033,50095,50011,00016,300171,500119,000(24,500)516,30063,5005,5007,500131,000165,000143,800$ 516,300

Vertical analysis has the potential to be particularly beneficial for evaluating a company's…

Answered: equired: 1. Prepare a vertical analysis…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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please help fill in the blanks

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.)

Note:-

Do not provide handwritten solution. Maintain accuracy and quality in your answer.

Take care of plagiarism.

Answer completely.

You will get up vote for sure.

Assets
Current assets:
Cash
Accounts receivable
Inventory
Prepaid rent
Long-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
Retained earnings
Total liabilities and stockholders' equity
Balance Sheets
For the Years Ended December 31
2024
Amount
$
S
S
$
125,400
66,000
53,900
22,000
60,500
137,500
122,100
(37,400)
550,000
48,400
11,000
8,250
171,600
165,000
145,750
550,000
$
$
$
Amount
2023
94,000
33,500
95,500
11,000
16,300
171,500
119,000
(24,500)
516,300
63,500
5,500
7,500
131,000
165,000
143,800
$ 516,300

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