! 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. Required: 1. Prepare a vertical analysis of the balance sheet data for 2022 and 2021. Express each amount as a assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.) percentage of total FEDERER SPORTS APPAREL Balance Sheet December 31 2022 2021 Amount Amount Assets Cash 2,327,500 615,000 1,487,500 1,155,000 Accounts receivable 1,680,000 Inventory 3,185,000 Buildings 12,600,000 12,600,000 Less: Accumulated depreciation (2,100,000) (1,050,000) 17,500,000 15,000,000 Total assets Liabilities and Stockholders' Equity Accounts payable 1,592,500 1,890,000 Contingent liability 1,592,500 Common stock 7,665,000 7,665,000 Retained earnings 6,650,000 5,445,000 $ 15,000,000 17,500,000 Total liabilities and stockholders' equity 2. Prepare a horizontal analysis for 2022 using 2021 as the base year. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) FEDERER SPORTS APPAREL Balance Sheet December 31 Increase (Decrease) Year 2022 2021 Amount Assets 615,000 Cash 2,327,500$ Accounts receivable 1,487,500 1,155,000 Inventory 1,680,000 3,185,000 Buildings 12,600,000 12,600,000 Less: Accumulated depreciation (2,100,000) (1,050,000) 17,500,000 $ 15,000,000 Total assets Liabilities and Stockholders' Equity Accounts payable 1,592,500 1,890,000 1,592,500 Contingent liability 7,665,000 Common st0ck 7,665,000 Retained earnings 6,650,000 5,445,000 17,500,000 15,000,000 Total liabilities and stockholders' equity