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! Required information [The following information applies to the questions displayed below.) The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented
! 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 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 Accounts receivable Inventory Buildings Less: Accumulated depreciation $ 2,640,000 1,820,000 3,300,000 14,400,000 (2,160,000) $ 20,000,000 $ 990,000 1,512,000 2,178,000 14,400,000 (1,080,000) $ 18,000,000 Total assets $ 2,178,000 Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock $ 1,640,000 1,900,000 9,360,000 7,100,000 $ 20,000,000 Retained earnings Total liabilities and stockholders' equity 9,360,000 6,462,000 $ 18,000,000
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