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need help with part 2 and i gave the info from 1 in the second picture

2. Prepare a horizontal analysis for 2022 using 2021 as the base year. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Answer is not complete. Increase (Decrease) Amount % $ 1,400,000 247,500 4,772,500 X 175.0 25.0 287.5% FEDERER SPORTS APPAREL Balance Sheet December 31 Year 2022 2021 Assets Cash $ 2,200,000 800,000 Accounts receivable 1,237,500 990,000 Inventory 3,112,500 1,660,000 Buildings 7,150,000 7,150,000 Less: Accumulated depreciation (1,200,000) (600,000) Total assets $12,500,000 $10,000,000 Liabilities and Stockholders' Equity Accounts payable $ 1,512,500 $ 1,250,000 Contingent liability 850,000 Common stock 5,050,000 5,050,000 Retained earnings 5,087,500 3,700,000 Total liabilities and stockholders' equity $12,500,000 $10,000,000 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.) Answer is complete and correct. FEDERER SPORTS APPAREL Balance Sheet December 31 2022 Amount % Amount 2021 % $ 2.200,000 1,237,500 3,112,500 7.150,000 (1.200,000) $12,500,000 17.6 9.9 24.9 57.2 (9.6) 100.0 $ 800,000 990,000 1,660,000 7.150,000 (600,000) $10,000,000 16.6 71.5 (6.0) 100.0 Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ 1,250,000 12.5 $ 1,512,500 850,000 5,050,000 5,087,500 $12,500,000 12.1 6.8 404 40. 7 100.0 5,050,000 3 ,700,000 $10,000,000 50.5 37.0 100.0 1 2 of 8 Next >

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