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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 2021 Amount Amount Assets $ 2,200,000 1,237,500 800,000 Cash Accounts receivable 990,000 Inventory Buildings Less: Accumulated depreciation 3,112,500 1,660,000 7,150,000 7,150,000 (600,000) $ 10,000,000 (1,200,000) $ 12,500,000 Total assets Liabilities and Stockholders' Equity $ 1,512,500 850,000 5,050,000 $ 1,250,000 Accounts payable Contingent liability Common stock 5,050,000 Retained earnings 5,087,500 3,700,000 $ 12,500,000 $ 10,000,000 Total liabilities and stockholders' equity

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