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The comparative financial statements for Prince Company are below. Year 2 Year 1 $191,300 112,600 78,700 56,300 22,400 6,720 $ 15,68 $167,200 100,400 66,800 53,300 13,500 4,050 $ 9,450 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) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (8 interest) Common stock ($5 par value, 5,600 shares outstanding) Retained earnings Total liabilities and stockholders' equity $ 4,100 14,600 40,200 45,700 $104,600 $ 15,200 43,300 28,000 18,109 $104,600 $ 6,000 17,700 33,300 37,900 $ 94,900 $ 16,200 43,300 28,000 7,400 $ 94,900 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 (L.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 96 196 Net Income PRINCE COMPANY Balance Sheet Increase (Decrease) from Year 1 to Year 2 Amount Percent Cash se % % % % $ 0 % Accounts receivable (net) Inventory Property and equipment (net) Total Assets Current liabilities (no interest) Long-term liabilities (8% interest) Common stock ($5 par value. 5,600 shares outstanding) Retained earnings Total liabilities and stockholders' equity sele % % % 0

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