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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.

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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: 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 Amount % 2021 Amount % Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ 1,692,000 1,164,000 2,424,000 8,280.000 (1,560,000) $ 12,000,000 $ 500,000 800,000 1,200,000 8,280,000 (780,000) $ 10,000,000 $ 1,000,000 $ 1.128,000 1,176,000 5,520,000 4,176,000 $ 12,000,000 5,520,000 3,480,000 $ 10,000,000 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 (Decrease) Amount % Assets Cash $ 1,692,000 $ 500,000 1,164,000 800,000 2,424,000 1,200,000 8,280,000 8,280.000 (1,560,000) (780,000) $ 12,000,000 $ 10,000,000 Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ 1,128,000 $ 1,000,000 1,176,000 5,520,000 5,520,000 4,170,000 3,480,000 $ 12,000,000 $10,000,000

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