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Please complete parts 1 and 2! Required information [The following information applies to the questions displayed below.) The balance sheets for Federer Sports Apparel for
Please complete parts 1 and 2!
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. 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.) FEDERER SPORTS APPAREL Balance Sheet December 31 2022 2021 Amount Amount Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ 2,310,000 1,305,000 4,005,000 8,580,000 (1,200,000) $ 15,000,000 $ 840,000 1,044,000 2,136,000 8,580,000 (600,000) $ 12,000,000 $ 1,380,000 $ 1,725,000 1,230,000 4,920,000 7,125,000 $ 15,000,000 4,920,000 5,700,000 $ 12,000,000 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 decimal place.) FEDERER SPORTS APPAREL Balance Sheet December 31 Year 2022 2021 Increase (Decrease) Amount % Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ 2,310,000 $ 840,000 1,305,000 1,044,000 4,005,000 2,136,000 8,580,000 8,580,000 (1,200,000) (600,000) $ 15,000,000 $ 12,000,000 $ 1.725,000 $ 1,380,000 1,230,000 4,920,000 4,920,000 7,125,000 5,700,000 $ 15,000,000 $ 12,000,000 Step by Step Solution
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