Analyzing Comparative Financial Statements by Using Percentages (Horizontal Analysis)

P12-1 (Algo) Analyzing Comparative Financial Statements by Using Percentages (Horizontal Analysis) L012-6 The comparative financial statements prepared at December 31, Year 2, for Goldfish Company showed the following summarized data: "One-third was credit sales. tDuring Year 2 , cash dividends amounting to $7,500 were declared and paid. Required: 1. Complete the following columns for each item in the comparative financial statements (Negative answers should be indicated by a minus sign. Round percentage answers to 2 decimal places, i.e., 0.1243 should be entered as 12.43.): 2-a. By what amount did working capital change? Answer is complete and correct. 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. 2-c. What was the amount of cash collections from customers in year 2? Answer is complete but not entirely correct. 2-d. What was the change for the gross profit margin ratio? (Round intermediate calculations and final answer to 1 decimal place.)