Question: can someone help me solve this Required Information Exercise 12-4A Prepare vertical and horizontal analyses (L012-1, 12-2) [The following information applies to the questions displayed

Required Information Exercise 12-4A Prepare vertical and horizontal analyses (L012-1, 12-2) [The following information applies to the questions displayed below) The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. Exercise 12-4A Part 1 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.) Answer is complete but not entirely correct. FEDERER SPORTS APPAREL Balance Sheet December 31 2022 2021 Amount % Amount % Assets Cash Accounts receivable Inventory Buildings Less Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total abilities and stockholders equity $ 2,756,500 1.720,500 3,367,000 13,024,000 (2.368,000) $18,500,000 100.0 X $ 896,000 1.1 x 1,232,000 1.1 X 2,032,000 1.1 X 13,024,000 1.1 (1.184.000) 1.1 X $ 16,000,000 100.0 % 1.1 1.1% 1.1 x 1.1 % 1.1 X s. 1,591,000 1,850,000 7,696,000 7,363,000 $18,500,000 1.1 X $ 1,792,000 1.1 x 1.1 X 7,696,000 1.1 X 6,512.000 1.1 X $16,000,000 1.1 x 1.1X 1.1X 1.1 x 11 X Required information Exercise 12-4A Prepare vertical and horizontal analyses (LO12-1, 12-2) The following information applies to the questions displayed below.) The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. Exercise 12-4A Part 2 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.) Answer is not complete. Increase (Decrease) Amount % $ 100X 1000 FEDERER SPORTS APPAREL Balance Sheet December 31 Year 2022 2021 Assets Cash $ 2,756,500 $ 896,000 Accounts receivable 1.720,500 1.232,000 inventory 3,367,000 2,032,000 Buildings 13,024,000 13.024.000 Less: Accumulated depreciation (2,368,000) (1,184,000) Total assots $18,500,000 $16,000,000 Liabilities and Stockholders' Equity Accounts payable $ 1,591,000 $ 1,792.000 Contingent liability 1.850.000 Common stock 7.696,000 7,696,000 Retained earnings 7,363,000 6,512,000 Total liabilities and stockholders' equity $18,500,000 $16,000,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
