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 $ 19,100,000 $ 15,800,000 13,064,400 7,189,000 6,035,600 8,611,000 1.680.800 1,264,000 1,069,600 1,069,600 267,400 1,585,300 347,600 1,432,500 5,929,800 515,700 2,085,600 $ 916,800 $ 3,844,200