The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. 2. Prepare a horizontal analysis fo

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The Balance Sheets For Federer Sports Apparel For 2022 And 2021 Are Presented Below 2 Prepare A Horizontal Analysis Fo 1 (40.27 KiB) Viewed 62 times

The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. 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.) FEDERER SPORTS APPAREL Balance Sheet December 31 Year Increase (Decrease) Amount 2022 % Assets Cash $ 2,431,000 $ 754,000 Accounts receivable. 1,581,000 1,305,000 Inventory 3,128,000 1,595,000 Buildings 11,832,000 11,832,000 Less: Accumulated depreciation (1,972,000) (986,000) Total assets $ 17,000,000 $14,500,000 Liabilities and Stockholders' Equity Accounts payable $ 1,496,000 $ 1,856,000 Contingent liability 1,360,000 Common stock 7,888,000 7,888,000 Retained earnings 6,256,000 4,756,000 Total liabilities and stockholders' equity $ 17,000,000 $14,500,000 2021