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[The following information applies to the questions displayed below.] The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below.

2. Prepare a horizontal analysis for 2022 using 2021 as the base year. (Note: If the percentage increase or decrease cannot be calculated, then leave the cell blank. Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.)

Required information [The following information applies to the questions displayed below.] The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. 2. Prepare a horizontal analysis for 2022 using 2021 as the base year. (Note: If the percentage increase or decrease cannot be calculated, then leave the cell blank. Decreases should be indicated by a minus sign. Round your percentage answers to 1 de place.) FEDERER SPORTS APPAREL Balance Sheet December 31 Year Increase (Decrease) Amount % 2022 2021 Assets Cash Accounts receivable $ 1,692,000 $ 500,000 1,164,000 800,000 2,424,000 1,200,000 8,280,000 8,280,000 (1,560,000) (780,000) $ 12,000,000 $10,000,000 Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock $ 1,128,000 $ 1,000,000 1,176,000 5,520,000 5,520,000 4,176,000 3,480,000 $ 12,000,000 $ 10,000,000 Retained earnings Total liabilities and stockholders' equity