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! Required information The following information applies to the questions displayed below.) The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. Required: 1. Prepare a vertical analysis of the balance sheet data for 2022 and 2021. Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.) Required 2021 2022 Amount % % Amount $ 2,370,000 1,215,000 4,275,000 8,460,000 (1,320,000) $ 15,000,000 $ 948,000 972,000 2,280,000 8,460,000 (660,000) $ 12,000,000 Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ 1,500,000 $ 1.725,000 1,470,000 6,000,000 5,805,000 $ 15,000,000 6,000,000 4,500,000 $ 12,000,000 ! Required information The following information applies to the questions displayed below.] The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. 2. Prepare a horizontal analysis for 2022 using 2021 as the base year. (Note: If the percentage increase or decrease cannot be calculated, then leave the cell blank. Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) FEDERER SPORTS APPAREL Balance Sheet December 31 Year Increase (Decrease) Amount 2022 2021 Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ 2,370,000 $ 948,000 1,215,000 972,000 4,275,000 2,280,000 8,460,000 8,460,000 (1,320,000) (660,000) $ 15,000,000 $ 12,000,000 $ 1.725,000 $1,500,000 1,470,000 6,000,000 6,000,000 5,805,000 4,500,000 $ 15,000,000 $ 12,000,000