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#2-f and 2-h please. P12-2 Analyzing Comparative Financial Statements by Using Percentages and Selected Ratios L012-5, 12-6, 12-9 The comparative financial statements prepared at December
#2-f and 2-h please.
P12-2 Analyzing Comparative Financial Statements by Using Percentages and Selected Ratios L012-5, 12-6, 12-9 The comparative financial statements prepared at December 31, year 2, for Goldfish Company showed the following summarized data: Statenent of Earnings Sates 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) Year 2 Year 1 $380,670 $320,000 328,272 268, 80e 60, 40e 52,800 41, e3e 36,600 19,370 15,400 7. 440 5,200 $ 11,932 $ 9,700 $ 4,112 15, 130 43,712 25 eze $ 87,970 $ 14,532 35,310 18. eee 20. 162 $ 88,888 $ 8,10 18,000 38,800 21. Bee $ 85,100 $ 17,600 34,200 18, cee 15,400 $ 85,100 Current liabilities no interest) Non-current liabilities (120 interest) Common shares (6,280 shares) Retained earningst "One-third was credit sales, During Year 2. cash dividends amounting to $7.200 were declared and paid. 24 Return on assets. Assume that long-term debt increased to $35.310 in month 1 of year 2. (Round intermediate calculations to 3 decimal places and percentage answer to 2 decimal places (ie, 0.1243 should be entered as 12.43).) Return on assets 2-9. Return on equity. (Round percentage answer to 2 decimal places (.e., 0.1243 should be entered as 12.43).) Return on our 2-4. Financial leverage percentage. Did borrowing from creditors benefit shareholders? (Round Intermediate calculations and final answer to 2 decimal places.) Financial leverage percentage % YesStep by Step Solution
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