Proctoring Enabled: MGMT8500 - Midterm Exam - Tuesday i 6 20 points F1 2 00:38:48 Mc Graw @ W The comparative financial statements prepared at December 31, year 2, for Goldfish Company showe Statement of Earnings Sales revenue Cost of sales Gross profit Operating expenses and interest expense Earnings before income taxes Income tax expense Net earnings Statement of Financial Position Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Current liabilities (no interest) Long-term debt (interest rate: 10 %) Common shares (6,000 shares) Retained earningst # 3 Statement of earnings: Sales revenue Cost of sales Gross margin E F3 4 $ DII F4 R *One-third was credit sales. +During Year 2, cash dividends amounting to $7,500 were declared and paid. 65 % F5 Required: 1. Present component percentages for Year 2 only. (Input all amounts as positive values. Round the final answe whole percent. Percentages may not add exactly due to rounding.) T -0. 6 F6 Y Component Percentages Year 2 18 % 19 % (1) % & Year 2 7 $241,700* 181,850 F7 59,850 45,510 14,340 3,610 $10,730 $ 4,230 17,450 44,480 45,500 $111,660 $ 13,780 43,150 30,000 24,730 $111,660 < Prev 8 F8 Year 1 8 $205,000 153,000 52,000 40,500 11,500 2,700 $ 8,800 $ 8,500 21,000 39,000 38,500 $107,000 Saved $ 16,500 39,000 30,000 21,500 $107,000 6 of 11 www www F9 W S Next > prt sc 990 F10 ) 0 home F11