1 P12-1 Analyzing Comparative Financial Statements by Using Percentages LO12-5 10 points The comparative financial statements prepared at December 31, Year 2, for Goldfish Company showed the following summarized data: Year 2 Year 1 X 02:14:47 Statement of Earnings Sales revenue Cost of sales Gross margin 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) $380, 670* $320,000 320,270 268,000 60,400 52,000 41,030 36,600 19, 370 15,480 7,440 5,700 11,930 $ 9,700 $ 4, 110 15, 130 43, 710 25,020 $ 87,970 $ 14,530 35, 310 18,000 20, 130 87,970 $ 8,100 18,000 38,000 21,000 $ 85, 100 $ 17,600 34,100 18,000 15,400 $ 85, 100 Current liabilities (no interest) Non-current liabilities (10% interest) Common shares (6,000 shares) Retained earningst *One-third was credit sales. During Year 2, cash dividends amounting to $7,200 were declared and paid. 1 Answer is complete but not entirely correct. Change in working capital $ 3,790 X 10 points X 02:15:03 2-b. What was the percentage change in the income tax rate? (Round intermediate calculations and final answer to 2 decimal places.) Answer is complete but not entirely correct. Percentage change (1.40) % increase 2-c. What was the amount of cash collections from customers in year 2? * Answer is not complete. Amount inflow 2-d. What was the percentage change for the markup realized on sales? (Round intermediate calculations and final answer to 1 decimal place.) Percentage change % Screens