The balance sheets for Federer Sports Apparel for 2019 and 2018 are presented below. 2.22 points Required: 1. Prepare a vertical analysis f the balance sheet data for 2019 and 2018. 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 Ralance Sheet December 31 2019 2018 Amount Amount % Assets 980,000 Cash 3.000,000 Accounts receivable 1.800,000 1,242,500 Inventory 1.977.500 3.300.000 Buildings 14.700.000 14 700 000 (2 800.000 Less: Accumulated depreciation (1.400.000) 0000.000 Total assets 17,500,000 Liabilities and Stockholders' Equity 1.920,000| 2,187,500 Accounts payable Contingent liablity 1,840,000 0 9.100,000 Common stock 9.100.000 Retained earnings 7.140,000 6.212.500 S17.500 000l 20.000.000 Total liabilities and stockholders' equity 2. Prepare a horizontal analysis for 2019 using 2018 as the base year. (Decreases should be indicated by a minus FEDERER SPORTS APPAREL Balance Sheet December 31 Increase (Decrease) Year 2019 2018 Amount Assets Cash 3,000,000 $ 980,000 Accounts receivable 1,800,000 1,242,500 Inventory Buildings Less: Accumulated depreciation 3,300,000 1,977,500 14,700,000 14,700,000 (2,800,000) (1,400,000) 20,000,000 17,500,000 Total assets Liabilities and Stockholders' Equity 1,920,000 $ 2,187,500 Accounts payable Contingent liability 1,840,000 C 9,100,000 Common stock 9,100,000 Retained earnings 7,140,000 6,212,500 $ 17,500,000 Total liabilities and stockholders' equity 20,000,000