Question
Required: 1. Prepare vertical analysis of the balance sheet data for 2022 and 2021. Express each amount as a percentage of total assets. (Amounts to
Required:
1.Prepare 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 APPARELBalance SheetDecember 3120222021Amount%Amount%AssetsCash
$
2,300,000
$
800,000Accounts receivable1,500,0001,200,000Inventory2,800,0001,700,000Buildings11,000,00011,000,000Less: Accumulated depreciation(2,000,000)(1,000,000)Total assets
$
15,600,000
$
13,700,000Liabilities and Stockholders' EquityAccounts payable
$
1,450,000
$
1,700,000Contingent liability1,500,000Common stock8,000,0008,000,000Retained earnings4,650,0004,000,000Total liabilities and stockholders' equity
$
15,600,000
$
13,700,000
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