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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 Cash Accounts receivable $ 2,300,000 1,500,00 2.800.000 11,000,000 (2,000,000) $ 15,600.000 $ 800,000 1,200,000 1,700,000 11,000,000 (1,000,000) $ 13,700,000 Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ 1,450,000 $ 1,700,000 1,500,000 8,000,000 4,650,000 $ 15,600,000 8,000,000 4.000.000 $ 13,700,000
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