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(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.
(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.) Balance Sheet December 31 2022 2021 Amount Amount Assets Cash 3,087,000 1.764,000 3,717,000 14.763,000 (2.331.000) $ 21,000,000 1,073,000 1,424,500 2,405,000 14,763,000 (1,165,500) $ 18,500,000 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 $ 2,331,000 1,953,000 1,995,000 9,324,000 7.728.000 $ 21,000,000 9.324.000 6,845,000 18,500,000 $
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