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.) FEDERER SPORTS APPAREL Balance Sheet December 31 2022 2021 % Amount Amount Assets S Cash 2,220,000 1,000,000 Accounts receivable 1,200,000 1,530,000 3,675,000 Inventory 1,750,000 Buildings 9,525,000 9,525,000 Less: Accumulated depreciation (1,950,000) (975,000) $ 12,500,000 $ 15,000,000 Total assets Liabilities and Stockholders' Equity Accounts payable 1,500,000 S 1,200,000 Contingent liability 990,000 Common stock 6,900,000 6,900,000 Retained earnings 5,610,000 4,400,000 S 15,000,000 $ 12,500,000 Total liabilities and stockholders' equity 2. Prepare a horizontal analysis for 2022 using 2021 as the base year. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) FEDERER SPORTS APPAREL Balance Sheet December 31 Increase (Decrease) Year 2021 2022 Amount % Assets $ Cash 2,220,000 1,000,000 1,200,000 Accounts receivable 1,530,000 3,675,000 Inventory 1,750,000 9.525,000 Buildings 9,525,000 Less: Accumulated depreciation (1,950,000) (975,000) 12,500,000 15,000,000 Total assets Liabilities and Stockholders' Equity Accounts payable $ 1,500,000 1,200,000 Contingent liability 990,000 6,900,000 Common stock 6,900,000 Retained earnings 5,610,000 4,400,000 15,000,000 12,500,000 Total liabilities and stockholders' equity