6 value: 2.14 points CP13-2 Analyzing Comparative Financial Statements Using Selected Ratios [LO 13-4, LO 13-5] The comparative financial statements prepared at December 31 for Golden Corporation showed the following summarized data: Current Previous Income Statement Sales revenue Cost of goods sold $195,000 $177,000 106,000 116,000 Gross profit Operating expenses Interest expense 79,000 56,300 3,000 71,000 52,800 2,900 Income before income taxes Income tax expense 19,700 5,910 15,300 3,300 Net income $ 13,790 12,000 Balance Sheet Cash Accounts receivable (net) Inventory Property and equipment (net) $ 6,590 S8,300 24,500 38,000 41,000 22,000 43,000 48,000 $119,590 111,800 Current liabilities Note payable (long-term) Common stock (par $5) Additional paid-in capital Retained earnings" $ 18,100 48,000 31,800 5,600 16,090 21,100 48,000 31,800 5,300 5,600 $119,590 111,800 During the current year, cash dividends of $3,300 were declared and paid