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