The income statements for Federer Sports Apparel for 2022 and 2021 are presented below. Required: Prepare a horizontal analysis for 2022 using 2021 as the base year. (Decreases should be indicated with a minus sign. Round your percentage answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income Income Statement For the Years Ended December 31 Year $ FEDERER SPORTS APPAREL $ 2022 19,700,000 $ 12,765,600 6,934,400 1,851,800 1,221,400 394,000 1,753,300 1,713,900 650,100 1,063,800 $ 2021 16,400,000 7,560,400 8,839,600 1,410,400 1,221,400 246,000 5,961,800 2,263,200 3,698,600 Increase (Decrease) Amount %