The balance sheets for Federer Sports Apparel for 2025 and 2024 are presented below. Required: 1. Prepare
Question:
The balance sheets for Federer Sports Apparel for 2025 and 2024 are presented below.
Required:
1. Prepare a vertical analysis of the balance sheet data for 2025 and 2024. Express each amount as a percentage of total assets.
2. Prepare a horizontal analysis for 2025 using 2024 as the base year.
Transcribed Image Text:
Assets Cash Accounts receivable Inventory Buildings FEDERER SPORTS APPAREL Balance Sheets DECEMBER 31 Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity 2025 $ 2,300,000 1,500,000 2,800,000 11,000,000 (2,000,000) $15,600,000 $ 1,450,000 1,500,000 8,000,000 4,650,000 $15,600,000 2024 800,000 2,200,000 1,700,000 11,000,000 (1,000,000) $14,700,000 $ 1,700,000 1,000,000 8,000,000 4,000,000 $14,700,000
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ANSWER 1 Vertical Analysis Vertical analysis expresses each item in the financial statement as a per...View the full answer
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