Required information [The following information applies to the questions displayed below.] The balance sheets for...
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Required information [The following information applies to the questions displayed below.] The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. 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 2021 Amount Amount Assets 759,500 Cash 2,430,000 Accounts receivable 1,530,000 1,193,500 3,438,000 1,829,000 Inventory Buildings 12,834,000 12,834,000 Less: Accumulated depreciation (1,116,000) (2,232,000) $ 18,000,000 $ 15,500,000 Total assets Liabilities and Stockholders' Equity Accounts payable 1,602,000 1,968,500 Contingent liability 1,764,000 Common stock 7,254,000 7,254,000 Retained earnings 7,380,000 6,277,500 $ 18,000,000 $ 15,500,000 Total liabilities and stockholders' equity
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