(The following information applies to the questions displayed below) The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. of 2 Required: 1. Prepare a vertical analysis of the balance sheet data for 2022 and 2021. Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.) FEDERER SPORTS APPAREL Balance Sheet December 31 2022 Amount ook 2021 Amount int int $ 2.208,000 1456,000 3,040,000 11,536,000 (2.240,000) $ 16,000,000 $ 728,000 1,078,000 1,778,000 11,636,000 (1,120,000) $ 14,000,000 Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholdersequity ences $ 1,680,000 $ 1,600,000 1,392,000 6,048,000 6,960,000 16,000,000 5,048,000 8,272,000 $ 14,000,000 in uw papuyer 2 The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. of 2 2. Prepare a horizontal analysis for 2022 using 2021 as the base year. (Note: If the percentage increase or decrease cannot be calculated, then leave the cell blank. Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Increase (Decreaso) Amount Hint FEDERER SPORTS APPAREL Balance Sheet December 31 Year 2022 2021 Assets Cash $ 2,205,000 $ 728,000 Accounts receivable 1,450,000 1,078,000 Inventory 3,040,000 1,778,000 Buildings 11,536,000 11,536,000 Loss: Accumulated depreciation (2.240,000) (1.120,000) Total assets $ 16,000,000 $14,000,000 Liabilities and Stockholders' Equity Accounts payable $ 1,600,000 $ 1,690,000 Contingent liability 1,392.000 Common stock 6,048,000 6,048,000 Retnined earnings 6,960,000 6,272,000 Total liabilities and stockholders' equity $ 16,000,000 $14,000,000 Print ferences