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Everything is correct except the blank answers I need help with. The following information applies to the questions displayed below.] The comparative financial statements prepared

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Everything is correct except the blank answers I need help with.

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The following information applies to the questions displayed below.] The comparative financial statements prepared at December 31, 2015, for Prince Company showed the following summarized data 2015 2014 Income statement Sales revenue Cost of goods sold $190,300 $168,100 102,000 112,000 Gross profit Operating expenses and Interest expense 78,300 56,600 66,100 53,600 Pretax Income Income tax 21,700 7,400 12,500 3,700 Net Income $ 14,300 $ 8,800 Balance sheet Cash Accounts receivable (net) Inventory Operational assets (net) $ 4,100 14,500 41,600 45,800 $5,900 17,300 33,200 37,300 $106,000 $ 93,700 Current labllities (no Interest) Long-term liabilities (8% interest) Common stock (par $5) Retalned earnings $ 15,500 44,800 29,400 16,300 $16,500 44,800 29,400 3,000 $106,000 93,700 One-third was credit sales Required: 1. Present component percentages for 2015 only. (Enter your answer as a percentage rounded to 1 decimal place (i.e. 0.123 should be entered as 12.3).) PRINCE COMPANY Income Statement At December 31, 2015 Component Percentages 2015 Sales revenue (the base amount) Cost of goods sold Gross profit on sales Operating expenses Pretax income Income taxes Net income 100.01% 58.91 % 41.11% 29.7 % 11.41% 3.91% 7.51% PRINCE COMPANY Balance Sheet At December 31. 2015 Component Percentages 2015 Cash Accounts receivable (net) Inventory Operational assets (net) Total assets (the base amount) Current liabilities Long-term liabilities (10% interest) Common stock (S5 par) Retained earnings Total liabilities and owners' equity (the base amount) 3.91% 13.7 % 39.21 % 43.21% 100.01% 14.61% 42.31% 27,71% 15.41% 100.01% 2. value: 6.00 points 2. Respond to the following for 2015: (Round your answers to 1 decimal place.) a. What was the gross profit percentage? Gross profit b. What was the income tax rate? Income tax rate 34.1% c. Compute the profit margin? rofit margin (net) 7.5 %) d. What percentage of total resources was invested in operational assets? Investment in operational assets 43.2 e. Compute the debt-to-equity ratio? Debt-to-equity f. What was the return on equity? Return on equity g. What was the return on assets? eturn on assets h. Compute the financial leveragepercentage? inancial leverage percentage

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