required intormauon [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 2.925,000 1,560,000 3,744.000 13,923,000 (2,652,000) 19,500,000 765,000 1,428,000 2,210,000 13,923,000 (1,326,000) 17,000,000 ces $ $ Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ $ 1,887,000 1,794,000 1.891,500 7,293,000 8,521,500 19,500,000 7.293,000 7,820,000 $ 17,000,000 $ 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 decim place.) FEDERER SPORTS APPAREL Balance Sheet December 31 Year 2022 2021 Increase (Decrease) Amount % Assets Cash $ 2,925,000 1,560,000 3,744,000 13,923,000 (2.652,000) $ 19,500,000 $ 765.000 1,428,000 2.210,000 13,923,000 (1,326,000) $ 17,000,000 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 $ 1,887.000 1.794.000 1,801,500 7.290.000 8,521,500 19,500,000 7,293,000 7,820,000 17,000,000 $ $