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.) FEVERER OFURTO AFFAREL Balance Sheet December 31 2022 2021 Amount % Amount % Assets + $ Cash $ 800,000 2,200,000 Accounts receivable Inventory 1,237,500 990,000 3,112,500 1,660,000 Buildings 7,150,000 7,150,000 Less: Accumulated depreciation (1,200,000) (600,000) $ Total assets 12,500,000 10,000,000 Liabilities and Stockholders' Equity Accounts payable $ 1,512,500 1,250,000 Contingent liability Common stock 850,000 5,050,000 5,050,000 Retained earnings 5,087,500 3,700,000 Total liabilities and stockholders' $ $ equity 12,500,000 10,000,000 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 decimal place.) FEDERER SPURIS APPAREL Balance Sheet December 31 Year Increase (Decrease) 2022 2021 Amount Assets Cash Accounts receivable $ $ 800,000 2,200,000 1,237,500 990,000 Inventory 3,112,500 1,660,000 Buildings 7,150,000 7,150,000 Less: Accumulated depreciation (1,200,000) (600,000) $ $ Total assets 12,500,000 10,000,000 Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ 1,512,500 1,250,000 850,000 5,050,000 5,050,000 5,087,500 3,700,000 $ $ 12,500,000 10,000,000