2.Prepare 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.)

December 31YearIncrease (Decrease)20222021Amount%AssetsCash

$

2,300,000

$

800,000Accounts receivable 1,500,0001,200,000Inventory2,800,0001,700,000Buildings11,000,00011,000,000Less: Accumulated depreciation(2,000,000)(1,000,000)Total assets

$

15,600,000

$

13,700,000Liabilities and Stockholders' EquityAccounts payable

$

1,450,000

$

1,700,000Contingent liability1,500,000Common stock8,000,0008,000,000Retained earnings4,650,0004,000,000Total liabilities and stockholders' equity

$

15,600,000

$

13,700,000