Final Exam Mc Graw Hill 3 02:22:27 Saved Help 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) Year 2 Year 1 $195,000* $165,000 120,000 100,000 75,000 65,000 60,000 53,000 15,000 12,000 4,000 3,000 $ 11,000 $ 9,000 $ 4,000 $ 8,000 15,000 18,000 40,000 45,000 35,000 38,000 $104,000 $ 99,000 $ 16,000 $ 19,000 Non-current liabilities (10% interest) Common shares (6,000 shares) Retained earnings 45,000 39,000 30,000 30,000 13,000 11,000 $104,000 $ 99,000 "One-third was credit sales. During year 2, cash dividends amounting to $9,000 were declared and paid. Required: 1. Present component percentages for year 2 only. (Input all amounts as positive values. Round the final answers to the nearest whole percent. Percentages may not add exactly due to rounding.) Component < Prev 3 of 14 Next >