Chapter 12 Homework LO12-01, LO12-03 Graded Help Save&Exit Submit 2 Exercise 12-3A Prepare horizontal analysis (L012-2) The income statements for Federer Sports Apparel for 2022 and 2021 are presented below 15 points Required Prepare a horizontal analysis for 2022 using 2021 as the base year. (Decreases should be indicated with a minus sign. Round your percentage answers to 1 decimal place.) Increase (Decrease 18,400,000| 3,358 400 5,041,600 490,400 01,600 15,100,000 6764,800 335,200 102,300 901,600 of goods sold Gross prof gation ,122 400 Exercise 12-3A Prepare horizontal analysis (LO12-2) The income statements for Federer Sports Apparel for 2022 and 2021 are presented below Required: Prepare a horizontal analysis for 2022 using 2021 as the base year. (Decreases should be indicated with a mir percentage answers to 1 decimal place.) FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 Increase (Decrease) Amount 2022 2021 Net sales S 18.400,000 15,100,000 Cost of goods sold 13,358,400 5,041,600 1,490.400 901,600 128,800 ,398,400 1.122 400 368,000 6.764,800 Gross profr 8,335,.200 ,102 300 901,600 Inventory 347.300 5,984,000 1,887,500 096 500 ncome before tax 754,400 $ 4 Net incomme