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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 below.
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 $ 1,820,000 1,388,000 3,094,000 9,800,000 (2,100,000) $ 14,000,000 $ 625,000 1,000,000 2,125,000 9,800,000 (1,050,000) $ 12,500,000 Cash Accounts recolvable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ 1,372.000 $ 1,225,000 6,650,000 1,316,000 6,650,000 4,682,000 $ 14,000,000 4,625,000 $ 12,500,000 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 SPORTS APPAREL Balance Sheet December 31 Year 2022 2021 Increase (Decreaso) Amount % Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained oamings Total liabilities and stockholders' equity $ 1,820,000 $ 625,000 1,386,000 1,000,000 3,094,000 2,125,000 9,800,000 9,800,000 (2.100,000) (1,050,000) $ 14,000,000 $ 12,500,000 $ 1,372,000 $ 1,225,000 1,316,000 6,650,000 6,650,000 4,662,000 4,625,000 $ 14,000,000 $ 12,500,000
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