Extracted text: 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.) FEDERER SPORTS APPAREL Balance Sheet December 31 Year Increase (Decrease) 2022 2021 Amount % Assets Cash $ 3,000,000 $ 980,000 $ 2,020,000 206.2 Accounts receivable 1,800,000 1,242,500 557,500 44.8 Inventory 3,300,000 1,977,500 1,322,500 66.8 Buildings 14,700,000 14,700,000 Less: Accumulated depreciation (2,800,000) (1,400,000) (1,400,000) 1.0 Total assets $ 20,000,000 $ 17,500,000 $ 2,500,000 14.3 Liabilities and Stockholders' Equity Accounts payable $ 1,920,000 $ 2,187,500 $ (2,187,500) (1.0) Contingent liability 1,840,000 00 Common stock 9,100,000 9,100,000 Retained earnings 927,500 $ 20,000,000 $ 17,500,000 $ 2,500,000 7,140,000 6,212,500 14.9 Total liabilities and stockholders' equity 14.3