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FEDERER SPORTS APPAREL Balance Sheet December 31 2022 2021 Amount % Amount Assets Cash Accounts receivable Inventory $ 2,640,000 1,820,000 3,300,000 14,400,000 (2,160,000) $ 20,000,000 990,000 1,512,000 2,178,000 14,400,000 (1,080,000) $ 18,000,000 Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock $ 2,178,000 $ 1,640,000 1,900,000 9,360,000 9,360,000 6,462,000 $ 18,000,000 Retained earnings 7,100,000 Total liabilities and stockholders' equity $ 20,000,000

FEDERER SPORTS APPAREL Balance Sheet December 31 2022 2021 Amount % Amount Assets Cash Accounts receivable Inventory $ 2,640,000 1,820,000 3,300,000 14,400,000 (2,160,000) $ 20,000,000 990,000 1,512,000 2,178,000 14,400,000 (1,080,000) $ 18,000,000 Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock $ 2,178,000 $ 1,640,000 1,900,000 9,360,000 9,360,000 6,462,000 $ 18,000,000 Retained earnings 7,100,000 Total liabilities and stockholders' equity $ 20,000,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below.

Required:

1. Prepare a vertical analysis of the balance sheet data for 2022 and 2021. Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.)

Required information FEDERER SPORTS APPAREL Balance Sheet December 31 2022 2021 Amount Amount % Assets Cash Accounts receivable 990,000 1,512,000 2,178,000 14,400,000 (1,080,000) $ 18,000,000 $ 2,640,000 $ 1,820,000 3,300,000 14,400,000 (2,160,000) $ 20,000,000 Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity $ 2,178,000 Accounts payable Contingent liability Common stock $ 1,640,000 1,900,000 9,360,000 7,100,000 $ 20,000,000 9,360,000 6,462,000 $ 18,000,000 Retained earnings Total liabilities and stockholders' equity
Transcribed Image Text:Required information FEDERER SPORTS APPAREL Balance Sheet December 31 2022 2021 Amount Amount % Assets Cash Accounts receivable 990,000 1,512,000 2,178,000 14,400,000 (1,080,000) $ 18,000,000 $ 2,640,000 $ 1,820,000 3,300,000 14,400,000 (2,160,000) $ 20,000,000 Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity $ 2,178,000 Accounts payable Contingent liability Common stock $ 1,640,000 1,900,000 9,360,000 7,100,000 $ 20,000,000 9,360,000 6,462,000 $ 18,000,000 Retained earnings Total liabilities and stockholders' equity
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