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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.)

ash$2,327,500$615,000$1,712,500selected answer correct68.5selected answer incorrectAccounts receivable1,487,5001,155,000332,500selected answer correct13.3selected answer incorrectInventory3,185,0001,680,0001,505,000selected answer correct60.2selected answer incorrectBuildings12,600,00012,600,0000selected answer correct0selected answer correctLess: Accumulated depreciation(2,100,000)(1,050,000)(1,050,000)selected answer correct(42.0)selected answer incorrectTotal assets$17,500,000$15,000,000$2,500,000selected answer correct100.0selected answer incorrectLiabilities and Stockholders' EquityAccounts payable$1,592,500$1,890,000$(297,500)selected answer correct(11.9)selected answer incorrectContingent liability1,592,5001,110,000482,500selected answer correct19selected answer incorrectCommon stock7,665,0007,665,0000selected answer correct0selected answer correctRetained earnings6,650,0004,335,0002,315,000selected answer correct92.6selected answer incorrectTotal liabilities and stockholders' equity $17,500,000$15,000,000$2,500,000selected answer correct100.0selected answer incorrect

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