s $Required information[The following information applies to the questions displayed below]The balance sheets for Federer Sports Apparel for 2025 and 2024 are presented below.2. Prepare a horizontal analysis for 2025 using 2024 as the base year. (Note: If the percentage increase or decrease cannot becalculated, then leave the cell blank. Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimalplace.)AssetsCashFEDERER SPORTS APPARELBalance SheetDecember 31Accounts receivableInventoryBuildingsLess: Accumulated depreciationTotal assets;Liabilities and Stockholders' EquityAccounts payableContingent liabilityCommon stockRetained earningsTotal liabilities and stockholders' equity2025$Year20241,820,000 $625,0001,386,0001,000,0003,094,0002,125,0009,800,0009,800,000(2,100,000) (1,050,000)$ 14,000,000 $ 12,500,000$ 1,372,000 $1,225,0001,316,0001,060,0006,650,0006,650,0004,662,0003,565,000$ 14,000,000 $ 12,500,000Increase (Decrease)Amount37

Balance sheet is the financial statement which is prepared by the entity for the purpose of…

The balance sheets for Federer Sports Apparel for 2025 and 2024 are presented below. 2. Prepare a horizontal analysis for 2025 using 2024 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.) Assets Cash Accounts receivable Inventory Buildings FEDERER SPORTS APPAREL Balance Sheet December 31 Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity 2025 Year 2024 $ 1,820,000 $ 625,000 1,386,000 1,000,000 3,054,000 2,125,000 9,800,000 9,800,000 (2,100,000) (1,050,000) $ 14,000,000 $12,500,000 $ 1,372,000 S 1,225,000 1,316,000 1,060,000 6,650,000 6,650,000 4,662,000 3,565,000 $ 14,000,000 $ 12,500,000 Increase (Decrease) Amount