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Required information [The following information applies to the questions displayed below.) The comparative financial statements for Prince Company are below: Year 2 Year 1 $190,400 112,500 77,900 Income statement: Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet: Cash Accounts receivable (net) 57,400 20,500 6,150 $ 14,350 $167,600 101,800 65,800 54,400 11,400 3,420 $ 7,980 $ 6,100 17,000 Inventory Total assets Property and equipment (net) 33,400 37,600 $ 5,400 15,000 41,300 47,000 $ 108,700 $ 15,900 43,300 25,000 24,500 $ 108,700 Current liabilities (no interest) Long-term liabilities (9 interest) Common ck ($5 par value, 5,000 shares outstanding) Retained earnings Total liabilities and stockholders' equity $ 94,100 $ 16,900 43,300 25,000 8,900 $ 94, 100 Required: 1. Complete the following columns for each item in the preceding comparative financial statements: (Enter your answer as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34). Decreases should be indicated by a minus sign.) PRINCE COMPANY Income Statement Increase (Decrease) from Year 1 to Year 2 Amount Percent Sales revenue % % Cost of goods sold Gross profit Operating expenses and interest expense % % Pretax income % Income tax % Net income % PRINCE COMPANY Balance Sheet Increase (Decrease) from Year 1 to Year 2 Amount Percent Cash % % Accounts receivable (net) Inventory Property and equipment (net) % % Total Assets 0 % % Current liabilities (no interest) Long-term liabilities (9% interest) Common stock ($5 par value, 5,000 shares outstanding) Retained earnings Total liabilities and stockholders' equity % 0 %

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