The income statements for Federer Sports Apparel for 2022 and 2021 are presented Required: 1. Prepare a vertical analysis of the balance sheet data for 2022 and 2021. Express each amount as a percentage Required: assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place Prepare a horizontal analysis for 2022 using 2021 as the base year. (Decreases shoul percentage answers to 1 decimal place.) FEDERER SPORTS APPAREL Balance Sheet FEDERER SPORTS APPAREL December 31 Income Statement 2022 2021 For the Years Ended December 31 Amount % Amount % Year Increase (Decrease) Assets 2022 2021 Amount % Gash S 2,370.000 $ 937.500 Net sales $ 19.800,000 $ 16,500,000 Accounts receivable 1.215.000 Cost of goods sold 1,012,500 12,711.600 7.623,000 Inventory 3.540 DDD 2,000.00 Gruss profil 7.000 400 8,577,000 Buildings 9.225.000 9,225.000 Operating expenses ang 1.881,000 emaine 1,435,500 Less: Accumulated depreciation (1.350.000 (675.000) Depreciation expense 1.247.400 1.247,400 Totaal als S 15.000.000 $ 12,500,000 Inventory write-down 415,800 Llabilities and Stockholders' Equity oss (litigation) 1,782,000 231,000 Accounts payable S S 1.725,000 Income betere tax $ 1.500.000 1.762,200 5,953,100 Contingent liability 1,470.000 Income tax expense 673 200 2.293,500 Common stock 6.000.00 Net income $ 1.089,000 $ 3.669,600 8,000,000 Patina Retained eamings 5.805.DDD 5.000.000 Total liabilities and stockholders' equity 5 15.000.DDD $ 12,500,000