The Income statements for Federer Sports Apparel for 2022 and 2021 are presented below. 12.5 polnts Required: Prepare a hortzontal 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.) FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 Year Increase (Decrease) eBook 2022 2021 Amount 14,900,000 6,645,400 8,254,00 Net sales 18,200,000 13,431,600 Cost of goods sold Gross profit Operating expenses Hint 4,768,400 1,437,800 1,057.900 Depreciation expense 856,400 856,400 Print 91,000 Inventory write-down Loss (itigation) 1,346,800 268,200 References Income before tax 1.037.400 6,073,100 327.600 1,832,700 4,240,400 Income tax expense 709.800 $ Net income