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 SPORTS APPAREL Balance Sheet December 31 Year Increase (Decrease) 2022 2021 Amount Assets $ 2,925,000 Cash 765,000 Accounts receivable 1,560,000 1,428,000 Inventory 3,744,000 2,210,000 13,923,000 Buildings 13,923,000 Less: Accumulated depreciation (2,652,000) (1,326,000) $ 17,000,000 $ 19,500,000 Total assets Liabilities and Stockholders' Equity $ 1,794,000 S 1,887,000 Accounts payable 1,891,500 Contingent liability 7,293,000 Common stock 7,293,000 Retained earnings 8,521,500 7,820,000 S 19,500,000 S 17,000,000 Total liabilities and stockholders' equity