52 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.) 00:06 FEDERER SPORTS APPAREL Balance Sheet December 31 2022 Amount % 2021 SK Amount % 8.1 ces Assets Cash Accounts receivable Inventory Buildings Less Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total abilities and stockholders equity $ 2,370,000 1,215,000 4,275,000 8,460,000 (1,320,000) $ 15,000,000 15.81 $ 948.000 8.1 972,000 2,280.000 8,460,000 (660,000) 1000 $ 12,000,000 100.0 00 $ 1.725,000 1,470,000 6,000,000 5,805,000 $ 15,000,000 115 S 1,500,000 98 400 6,000,000 38.7 4.500.000 100,0 $ 12,000,000 1000 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.) Increase (Decrease) Amount % FEDERER SPORTS APPAREL Balance Sheet December 31 Year 2022 2021 Assets Cash $ 2,370,000 $ 948,000 Accounts receivable 1.215,000 972,000 Inventory 4,275,000 2.280,000 Buildings 8,460,000 8,460,000 Less Accumulated depreciation (1,320,000) (660,000) Total assets $ 15,000,000 $ 12,000,000 Liabilities and Stockholders' Equity Accounts payable $ 1,725,000 $1,500,000 Contingent liability 1.470,000 Common stock 6,000,000 6,000,000 Retained earnings 5,805,000 4,500,000 Total liabilities and stockholders' equity $ 15,000,000 $ 12,000,000