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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.

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 Cash $2,300,000 $800,000 Accounts receivable 1,500,000 1,200,000 Inventory 2,800,000 1,700,000 Buildings 11,000,000 11,000,000 Less: Accumulated depreciation (2,000,000) (1,000,000) Total assets $15,600,000 $13,700,000 Liabilities and Stockholders' Equity Accounts payable $1,450,000 $1,700,000 Contingent liability 1,500,000 Common stock 8,000,000 8,000,000 Retained earnings 4,650,000 4,000,000 To