neyuncu HITTALUI Exercise 12-4A Prepare vertical and horizontal analyses (LO12-1, 12-2) [The following information applies to the questions displayed below.] Part 2 of 2 The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. 1.66 points Exercise 12-4A Part 2 eBook 2. Prepare a horizontal analysis for 2022 using 2021 as the base year. (Decreases should be indicated by a minus sign. Round percentage answers to 1 decimal place.) Hint Print Increase (Decrease) Amount % References FEDERER SPORTS APPAREL Balance Sheet December 31 Year 2022 2021 Assets Cash $ 2,300,000 $ 800,000 Accounts receivable 1,500,000 1,200,000 Inventory 2,800,000 1,700,000 Buildings 11,000,000 11,000,000 Less: Accumulated depreciation (2,000,000) (1,000,000) Total assets $ 15,600,000 $ 13,700,000 Liabilities and Stockholders' Equity Accounts payable $ 1,450,000 $ 1,700,000 Contingent liability 1,500,000 Common stock 8,000,000 8,000,000 Retained earnings 4,650,000 4,000,000 Total liabilities and stockholders' equity $ 15,600,000 $ 13,700,000 MC