The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. Required: 1. Prepare a vertical ana

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The Balance Sheets For Federer Sports Apparel For 2022 And 2021 Are Presented Below Required 1 Prepare A Vertical Ana 1 (44.83 KiB) Viewed 48 times

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 2021 Amount Amount Assets Cash $ 2,431,000 Accounts receivable 1,581,000 Inventory 3,128,000 Buildings 11,832,000 Less: Accumulated depreciation (1,972,000) Total assets $ 17,000,000 Liabilities and Stockholders' Equity Accounts payable $ 1,496,000 Contingent liability 1,360,000 Common stock 7,888,000 Retained earnings 6,256,000 Total liabilities and stockholders' equity $ 17,000,000 2022 % $ 754,000 1,305,000 1,595,000 11,832,000 (986,000) $14,500,000 $ 1,856,000 7,888,000 4,756,000 $14,500,000 %