The comparative financial statements prepared at December 31 for Tiger Audio showed the following summarized data: Required:

Question:

The comparative financial statements prepared at December 31 for Tiger Audio showed the following summarized data:

Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income

Required:
1. Complete the two final columns shown beside each item in Tiger Audio’s comparative financial statements. Round the percentages to one decimal place.
2. Which account increased by the largest dollar amount? Which account increased by the largest percentage?

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