Required 1. Prepare a vertical analysis of the balance sheet data for 2019 and 2018. 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 2019 2018 Amount Amount Assets Cash Accounts receivable $ 3,087,000 1,764,000 3,717,000 14,763,000 (2,331,000) $ 21,000,000 S 1,073,000 1.424,500 2.405,000 4,763,000 (1,165,500) S 18,500,000 Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings $ 1,953,000 1,995,000 9,324,000 7,728,000 $ 21,000,000 S 2.331,000 9,324,000 6.845,000 S 18,500,000 Total liabilities and stockholders' equity 2. Prepare a horizontal analysis for 2019 using 2018 as the base year. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) FEDERER SPORTS APPAREL Balance Sheet December 31 Year Increase (Decrease) Amount 2019 2018 Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation S 3,087,000 1,073,000 1,424,500 2.405,000 14,763,000 (2,331,0001,165,500) S 21,000,000 S 18,500,000 1,764,000 3,717,000 14,763,000 Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings S 1,953,000S 2,331,000 1,995,000 9,324,000 7,728,000 9,324,000 6,845,000 S 21,000,000 S 18,500,000 Total liabilities and stockholders' equity