Question: please help fill in the blanks Exercise 12-3A Prepare horizontal analysis (LO12-2) The income statements for Federer Sports Apparel for 2022 and 2021 are presented
please help fill in the blanks
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 minus sign. Round your percentage answers to 1 decimal place.) Increase (Decrease) Amount % 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 2022 2021 $ 18,200,000 $ 14,900,000 13,431,600 6,645,400 4,768,400 8,254,600 1,437,800 1,057,900 855,400 855,400 91,000 1,346,800 268,200 1,037,400 6,073,100 327,600 1,832,700 709,800 $ 4,240,400
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