2 10 points P12-2 Analyzing Comparative Financial Statements by Using Percentages and Selected Ratios LO12-5, 12-6, 12-9 The comparative financial statements prepared at December 31, year 2, for Goldfish Company showed the following summarized data: Year 2 Year 1 Statement of Earnings Sales revenue $332,900 $280,000 Cost of sales 267,950 224,000 Gross margin 65,030 56,000 Operating expenses and interest expense 44,660 39,000 Earnings before income taxes 20,370 16,200 Income tax expense 8,930 6,900 $ 11,440 $9,300 Statement of Financial Position Net earnings Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Current Liabilities (no interest) Non-current liabilities (10% interest) Common shares (6,000 shares) Retained earningst $ 4,810 5 7,900 13,450 16,000 39,110 34,000 51,240 43,000 $107,010 $100,900 $ 13,590 $15,000 38,080 35,400 36,000 36,000 20,178 13,700 $107,840 $100,900 "One-third was credit sales. During Year 2, cash dividends amounting to $5,000 were declared and paid. Required: 1. Present component percentages for Year 2 only. (Input all amounts as positive values. Round the final answers to the nearest whole percent. Percentages may not add exactly due to rounding.) Return to question