Return to question Exercise 12-2A Prepare vertical analysis (LO12-1) The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. 3.75 points Required: Prepare a vertical analysis of the data for 2022 and 2021. (Round your percentage answers to 1 decimal place.) Answer is not complete. FEDERER SPORTS APPAREL 2021 % 100.0 Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Income Statement For the Years Ended December 31 2022 Amount % 19,400,000 100.0 $ 12,920,400 6,479,600 1,765,400 1,144,600 329,800 1,668,400 1,571,400 582,000 $ 989,400 $ Amount 16,100,000 7,373,800 8,726,200 1,336,300 1,143,100 289,800 5,957,000 2,173,500 3,783,500 Return to question Exercise 12-3A Prepare horizontal analysis (L012-2) The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. 3.75 points 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.) Answer is not complete. $ Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 Year 2022 2021 $ 18,300,000 $ 15,000,000 13,395,600 6,705,000 4,904,400 8,295,000 1,464,000 1,080,000 878,400 878,400 109,800 1,372,500 360,000 1,079,700 5,976,600 347,700 1,860,000 $ 732,000 $ 4,116,600 Increase (Decrease) Amount 3,300,000 20.0 X 6,690,600 (3,390,600) 384,000 0 109,800 1,012,500 (4,896,900) (1,512,300) (3,384,600) $