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.) FEDERER SPORTS APPAREL Income Statement Increase (Decrease) Amount % Net sales Cost of goods sold Gross profit Operating expenses 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 Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income