mework os Saved Required information [The following information applies to the questions displayed below.] The balance s

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Mework Os Saved Required Information The Following Information Applies To The Questions Displayed Below The Balance S 1 (45.91 KiB) Viewed 36 times

mework os Saved 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. 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 decima place.) FEDERER SPORTS APPAREL Balance Sheet December 31 Year Increase (Decrease) Amount 2022 Assets Cash $ 2,370,000 $ 937,500 Accounts receivable. 1,215,000 1,012,500 Inventory 3,540,000 2,000,000 Buildings 9,225,000 9,225,000 Less: Accumulated depreciation (1,350,000) (675,000) Total assets $ 15,000,000 $12,500,000 Liabilities and Stockholders' Equity Accounts payable $ 1,725,000 $ 1,500,000 Contingent liability 1,470,000 Common stock 6,000,000 6,000,000 Retained earnings 5,805,000 5,000,000 Total liabilities and stockholders' equity $ 15,000,000 $12,500,000 2021 www