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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

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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 27 2021 Amount % Amount % Assets $ 1,692,000 1,164,000 2,424,000 8,280,000 (1,560,000) $ 12,000,000 $ 500,000 800,000 1,200,000 8,280,000 (780,000) $ 10,000,000 ces 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 $ 1,000,000 $ 1,128,000 1,176,000 5,520,000 4,176,000 $ 12,000,000 5,520,000 3,480,000 $ 10,000,000

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