Required information The following information applies to the questions displayed below! The balance sheets for Federer Sports Apparel for 2022 and 2021 ore presented below Required: 1. Prepare a vertical analysis of the balance sheet data for 2022 and 2021 Express cach 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 Amount 2021 Amount Assets Cash Accounts receivable Inventory Buildings Less Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Cartoon stock Retained things 53,000,000 1.800.000 3.300.000 14,700.000 2.800.000) $ 20,000,000 $ 900.000 1 242 500 1.977 500 14,700 000 1.400.000 $ 17,500,000 $ 2,187.500 $ 1.020.000 1 840 000 9.100.000 7.140 000 9,100,000 6212500 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 plece.) FEDERER SPORTS APPAREL Balance Sheet December 31 Year 2022 2021 Increase (Decrease) Amount Assets Cash Accounts receivable Inventory Buildings Eess Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock $3,000,000 900,000 1 800 000 1.242 500 3,300,000 1977 500 14,700 000 14,700,000 2 800,000) (1.400,000) $ 20,000,000 S 17,500,000 $ 1,920,000 $ 2187500 1,840,000 9,100,000 9.100.000 7140,000 5212500 Retained comings The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. Required: Prepare a horizontal analysis for 2022 using 2021 as the base year (Decreases should be indicated with a minus sign. Round your percentage answers to 1 decimal place.) Increase (Decreasa) Amount Not sales Cost of goods sold Gross profit Operating exponses Depreciation expense Inventory write-down Loss (litigation) Income bofore tax Income tax expense Not income FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 Year 2022 2021 s 17,800,000 $ 14,500,000 13,563.600 6.409 000 4236.400 8.091.000 1335,000 971,500 765.400 765 400 17 800 1245.000 203.000 872 200 6.151.100 249 200 1.725 500 $ 623 0005 4425 600