Exercise 12-3A Prepare horizontal analysis (LO12-2) The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. Required: Prepare a horizontal analysis for 2022 using 2021 as the base year. (Decreases should be indicated with a minus sign. Round your percentage answers to 1 decimal place.) FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 Year Increase (Decrease) Amount $ 2021 16,200,000 7,435,800 8,764,200 1,360,800 Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write down Loss (litigation) Income before tax Income tax expense Net income 2022 19,500,000 12,870,000 6,630,000 1,794,000 1,170,000 351,000 1,696,500 1,618.500 604,500 1,014,000 275,400 5.958.000 2,203,2007 3,754,800 LLLL $ $