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.) 12 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 FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 Year 2022 2021 $ 19,000,000 $ 15,700,000 13, 110,000 7.127.800 5,890,000 8,572,200 1,653,000 1,240,300 1.045,000 1,045,000 247,000 1,558,000 329,700 1,387,000 5,957,200 494,000 2,056,700 $ 893,000 $ 3,900,500 Net income 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.) % 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 2022 Amount % $ 19,100,000 $ 13,064,400 6,035,600 1,680,800 1,069,600 267,400 1,585,300 1,432,500 515,700 $ 916,800 $ 2021 Amount 15,800,000 7.189,000 8,611,000 1,264,000 1,074,400 0 347,600 5,925,000 2,085,600 3,839,400