2. Prepare a horizontal analysis for 2025 using 2024 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.) Assets FEDERER SPORTS APPAREL Balance Sheet December 31 Year 2025 2024 Cash $ 2,300,000 $ 800,000 Accounts receivable 1,500,000 2,200,000 Inventory 2,800,000 1,700,000 Buildings 11,000,000 11,000,000 Less: Accumulated depreciation (2,000,000) (1,000,000) Total assets $ 15,600,000 $ 14,700,000 Liabilities and Stockholders' Equity Accounts payable $ 1,450,000 $ 1,700,000 Contingent liability 1,500,000 1,000,000 Common stock 8,000,000 8,000,000 Retained earnings 4,650,000 4,000,000 Total liabilities and stockholders' equity $ 15,600,000 $ 14,700,000 Increase (Decrease) Amount % The balance sheets for Federer Sports Apparel for 2025 and 2024 are presented below. Exercise 12-4 (Static) Part 1 Required: 1. Prepare a vertical analysis of the balance sheet data for 2025 and 2024. 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 Assets 2025 Amount % 2024 Amount % Cash Accounts receivable Inventory Buildings $ 2,300,000 1,500,000 2,800,000 11,000,000 $ 800,000 2,200,000 1,700,000 11,000,000 Less: Accumulated depreciation (2,000,000) (1,000,000) Total assets $ 15,600,000 $ 14,700,000 Liabilities and Stockholders' Equity Accounts payable $ 1,450,000 $ 1,700,000 Contingent liability Common stock 1,500,000 1,000,000 8,000,000 8,000,000 Retained earnings 4,650,000 4,000,000 Total liabilities and stockholders' equity $ 15,600,000 $ 14,700,000