mework Saved 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 decima place.) Assets Cash Accounts receivable. Inventory FEDERER SPORTS APPAREL Balance Sheet December 31 Year Increase (Decrease) 2022 2021 Amount $ 2,370,000 $ 937,500 1,215,000 1,012,500 3,540,000 2,000,000 9,225,000 9,225,000 (1,350,000) (675,000) Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ 15,000,000 $ 12,500,000 $ 1,725,000 $ 1,500,000 1,470,000 6,000,000 5,805,000 6,000,000 5,000,000 $ 15,000,000 $12,500,000 www