Required 1. Prepare a vertical analysis of the balance sheet data for 2016 and 2015. 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 2016 2015 Amount Amount Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation $ 3,168,000 $1,804,000 $ 3,300,000 $ 16,302,000 (2,574,000) $ 22,000,000 $ 819,000 $1,443,000 $ 2,223,000 $ 16,302,000 (1,287,000) $ 19,500,000 Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings $1,936,000 $ 2,156,000 $8,580,000 $ 9,328,000 22,000,000 $ 2,496,000 $8,580,000 $8,424,000 $ 19,500,000 Total liabilities and stockholders' equity