22.02 bok The comparative financial statements prepared at December 31, Year 2, for Goldfish Company showed the following summarized data: 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) Current liabilities (no interest) Non-current liabilities (10% interest)) Common shares (6,000 shares) Retained earnings Year 2 Year 1 $288,950 $245,000 233,680 197,000 55,270 48,000 39,920 35,700 15,350 4,130 12,300 3,100 $ 11,220 $ 9,200 $ 4,780 $ 9,600 19,120 49,060 43,150 $116,110 $ 15,220 23,000 43,000 36,500 $112,100 $ 18,400 40,670 37,400 42,000 42,000 18,220 14,300 $116,110 $112,100 "One-third was credit sales During Year 2, cash dividends amounting to $7.300 were declared and paid. 1. Using the concept of horizontal analyis, complete the following columns for each item in the preceding comparative financial statements (Negative answers should be indicated by a minus sign. Round percentage answers to 2 decimal places (ie., 0.1243 should be entered as 12.43).): 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) Current liabilities Long-term debt Common shares Retained earnings Increase (Decrease) Year 2 over Year 1 Amount Percentage 0 $ 0 4 $ 2-a. By what amount did working capital change? Change in working capital 2-b. What was the percentage change in the income tax rate? (Round intermediate calculations and final answer to 2 decimal places.) Percentage change % 13 2-c. What was the amount of cash collections from customers in year 2? Amount of cash 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 %