The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. Required: Prepare a vertical analysis of the data for 2022 and 2021. (Round your percentage answers to 1 decimal place.) FEDERER SPORTS APPAREL Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income Statement For the Years Ended December 31 2022 Amount % $ 18,500,000 | $ 13,320,000 5,180,000 1,517,000 925,000 148,000 1,424,500 1,165,500 388,500 777,000 $ 2021 Amount 15,200,000 6,824,800 8,375,200 1,124,800 942,400 334,400 5,973,600 1,915,200 4,058,400 Income tax expense Net income The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. 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.) Increase (Decrease) Amount % 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 $ 19,700,000 $ 16,400,000 12,765,600 7,560,400 6,934,400 8,839,600 1,851,800 1,410,400 1,221,400 1,221,400 394,000 1,753,300 246,000 1,713,900 5,961,800 650,100 2,263,200 $ 1,063,800 $ 3,698,600