I need help completing this assignement, thanks.

IThe following information applies to the questions displayed belowJ The comparative financial statements prepared at December 31, 2015, for Prince Company showed the following summarized data: 2014 2015 Income statement: $190,000 $167,000 Sales revenue Cost of goods sold 112,000 100,000 67,000 Gross profit 78,000 56,000 53,000 Operating expenses and interest expense 22,000 Pretax income 14,000 8,000 4,000 Income tax 14,000 10,000 Net income Balance sheet: 4,000 7,000 Cash 14,000 18,000 Accounts receivable (net) 40,000 34,000 Inventory 38,000 Operational assets (net) 45,000 $103,000 97,000 16,000 17,000 Current liabilities (no interest) Long-term liabilities (10% interest) 45,000 45,000 Common stock (par $5) 30,000 30,000 12,000 Retained earnings 5,000 $103,000 97,000 *One-third was credit sales