2 ints eBook Hint Ask Print References Exercise 12-3 (Algo) Prepare horizontal analysis (LO12-2) The income statements for Federer Sports Apparel for 2025 and 2024 are presented below. Required: Prepare a horizontal analysis for 2025 using 2024 as the base year. (Decreases should be indicated with a minus sign. Round your percentage answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 Year $ $ 2025 18,600,000 $ 13,280,400 5,319,600 1,543,800 948,600 167,400 1,450,800 1,209,000 409,200 799,800 2024 15,300,000 6,885,000 8,415,000 1,147,500 948,600 321,300 5,997,600 1,943,100 $ 4,054,500 Increase (Decrease) Amount %

Exercise 12-3 (Algo) Prepare horizontal analysis (LO12-2) The income statements for Federer Sports Apparel for 2025 and 2024 are presented below. Required: Prepare a horizontal analysis for 2025 using 2024 as the base year, (Decreases should be indicated with a minus sign. Round your percentage answers to 1 decimal place.)