Required information [The following information applies to the questions displayed below.] The balance sheets for Federe

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Required Information The Following Information Applies To The Questions Displayed Below The Balance Sheets For Federe 1 (46.85 KiB) Viewed 36 times

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 2021 Amount Amount Assets Cash $ 2,370,000 Accounts receivable. 1,215,000 Inventory 3,540,000 Buildings 9,225,000 Less: Accumulated depreciation (1,350,000) Total assets $ 15,000,000 Liabilities and Stockholders' Equity Accounts payable $ 1,725,000 Contingent liability 1,470,000 Common stock 6,000,000 Retained earnings 5,805,000 Total liabilities and stockholders' equity $ 15,000,000 2022 937,500 1,012,500 2,000,000 9,225,000 (675,000) $ 12,500,000 $1,500,000 6,000,000 5,000,000 $ 12,500,000 $