1. Compute component percentages for Year 2. (Enter your answers as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).)

! Required information (The following information applies to the questions displayed below.) The comparative financial statements for Prince Company are below: Year 2 Year 1 $204,000 115,500 88,500 57,400 31,100 9,400 $ 21,700 $170,500 101,400 69,100 53,700 15,400 4,700 $ 10,700 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 (12% interest) Common stock ($5 par value, 6,700 shares outstanding) Retained earnings Total liabilities and stockholders' equity $ 5,400 14,700 41,400 47,100 $108,600 $ 16,700 45,700 33,500 12,700 $108,600 $ 7,700 18,700 36,800 39,400 $102,600 $ 17,700 45,700 33,500 5,700 $102,600 Required: 1. Compute component percentages for Year 2. (Enter your answers as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) Required: 1. Compute component percentages for Year 2. (Enter your answers as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) PRINCE COMPANY Income Statement Component Percentages Year 2 % Sales revenue % Cost of goods sold Gross profit on sales Operating expenses % % Pretax income % Income taxes % Net income % PRINCE COMPANY Balance Sheet Component Percentages Year 2 % Cash Accounts receivable (net) % Required information Net income PRINCE COMPANY Balance Sheet Component Percentages Year 2 % Cash % % % % Accounts receivable (net) Inventory Operational assets (net) Total assets Current liat Long-term liabilities (12% interest) Common stock ($5 par value, 6,700 shares outstanding) Retained earnings Total liabilities and stockholders' equity % % % %