P$12-1($Algo$)$ Analyzing Comparative Financial Statements by Using Percentages $($Horizontal Analysis$)$ L$012-62-$b$.$ What was the percentage change in the income tax rate? $($Round intermediate calculations and final answer to $2$ decimal

places.$)$

Percentage change

increase

increase

$2-$c$.$ What was the amount of cash collections from customers in year $2?$

Amount of cash inflow

$2-$d$.$ What was the change for the gross profit margin ratio? $($Round intermediate calculations and final answer to $1$ decimal place.$)$

The comparative financial statements prepared at December $31,$ Year $2,$ for Goldfish Company showed the following summarized data:

$\backslash$table$[[,$Year $2,$Year $1],[$Statement of Earnings$],[$Sales revenue,$$229,710**,$$$195,000],[$Cost of sales,$168,760,142,000],[$Gross profit,$60,950,53,000],[$Operating expenses and interest expense,$46,870,41,700],[\backslash$table$[[$Earnings before income taxes$],[$Income tax expense$]],\backslash$table$[[14,080],[3,480]],\backslash$table$[[11,300],[2,600]]],[$Net earnings,$$10,600,$$$8,700],[\backslash$table$[[$Statement of Financial Position$],[$Cash$],[$Accounts receivable $($net$)],[$Inventory$],[$Property$,$ plant, and equipment $($net$)]],\backslash$table$[[3,970],[17,000],[43,280],[46,030]],\backslash$table$[[8,000],[20,500],[38,000],[39,000]]],[$Property$,$ plant, and equipment $($net$),$$$110,280,$$$105,500],[$Current liabilities $($no interest$),\backslash$bar $($$$14,230),$$$17,000],[$Long$-$term debt $($interest rate: $10\%),46,150,41,000],[$Common shares $(6,000$ shares$),30,000,30,000],[$Retained earningst,$19,900,17,500],[$$$110,280,$$$105,500]]$

$*$One$-$third was credit sales.

$$During Year $2,$ cash dividends amounting to $$8,200$ were declared and paid.