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 decimal place.)

FEDERER SPORTS APPAREL Balance Sheet December 31 Year Increase (Decrease) Amount % 2022 2021 Assets Cash 206.1 Accounts receivable 44.9 66.9 Inventory Buildings Less: Accumulated depreciation $ 3,000,000 $ 980,000 $ 2,020,000 1,800,000 1,242,500 557,500 3,300,000 1,977,500 1,322,500 14,700,000 14,700,000 0 (2,800,000) (1,400,000) 1,400,000 $ 20,000,000 $ 17,500,000 $ 2,500,000 0 100.0 Total assets 14.3 Liabilities and Stockholders' Equity Accounts payable Contingent liability 12.2 Common stock $ 1,920,000 $ 2,187,500 $ 267,500 1,840,000 -1,840,0000 9,100,000 9,100,000 0 7,140,000 6,212,500 927,500 $ 20,000,000 $ 17,500,000 $ 2,500,000 0 14.9 Retained earnings Total liabilities and stockholders' equity 14.3