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.) Assets Cash Accounts receivable Inventory FEDERER SPORTS APPAREL Balance Sheet December 31 2022 Amount % $ 2,300,000 1,500,000 2021 Amount % $ 800,000 1,200,000 Buildings Less: Accumulated depreciation Total assets 2,800,000 11,000,000 (2,000,000) $ 15,600,000 1,700,000 11,000,000 (1,000,000) $ 13,700,000 Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Balance Sheet December 31 2022 Amount % Amount 2021 $ 2,300,000 1,500,000 2,800,000 11,000,000 (2,000,000) 1,500,000 8,000,000 4,650,000 $ 800,000 1,200,000 1,700,000 11,000,000 (1,000,000) $ 13,700,000 $ 1,700,000 8,000,000 4,000,000 $ 13,700,000 Total assets $ 15,600,000 Liabilities and Stockholders' Equity Accounts payable $ 1,450,000 Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ 15,600,000 %