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.) FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 Year Increase (Decrease) Amount % 2022 2021 Net sales $ $ 16,500,000 7,623,000 8,877,000 1,435,500 1,247,400 Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income 19,800,000 12,711,600 7,088,400 1,881,000 1,247,400 415,800 1,782,000 1,762,200 673,200 1,089,000 231,000 5,963,100 2,293,500 3,669,600 $ $