The balance sheets for Federer Sports Apparel for 2019 and 2018 are presented below.

1. Prepare a vertical analysis of the balance sheet data for 2019 and 2018. Express each amount as a percentage of total assets.

FEDERER SPORTS APPAREL
Balance Sheet
December 31
	2019		2018
	Amount	%	Amount	%
Assets
Cash	$2,200,000		$800,000
Accounts receivable	1,237,500		990,000
Inventory	3,112,500		1,660,000
Buildings	7,150,000		7,150,000
Less: Accumulated depreciation	(1,200,000)		(600,000)
Total assets	$12,500,000		$10,000,000
Liabilities and Stockholders' Equity
Accounts payable	$1,512,500		$1,250,000
Contingent liability	850,000		0
Common stock	5,050,000		5,050,000
Retained earnings	5,087,500		3,700,000
Total liabilities and stockholders equity	$12,500,000		$10,000,000

2. Prepare a horizontal analysis for 2019 using 2018 as the base year.