Business, 05.08.2020 19:01 gloryxu

The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. FEDERER SPORTS APPAR
Income Statement
For the Years Ended December 31
Year Increase Decrease
2019 2018 Amount %
Net sales 18,800,000 15,500,000
Cost of goods 13,200,000 7,000,000
Gross prof 5,600,000 8,500,000
Operating expenses 1,600,000 1,200,000
Depreciation expense 1,000,000 1,000,000
Inventory write-down 200,000 0
Loss (litigation) 1,500,000 300,000
Required:
Prepare a horizontal analysis for 2022 using 2021 as the base year.

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The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. FEDERER SPO...