need help doing the income statement

250 Chapter 15 PROBLEM 15-2 Using the information below and on the following page, perform Voyageur Inc. by filling in the Percent columns Inspructions: on the a vertical analysis for .) statements provided. (Round all percents to one decimal place Voyageur Inc Comparative Balance Sheet December 31, 2015 and 2014 2015 2014 Assets AmountPercent Amount Percent $ 500,000 | S.3% | $ 425,000 5A Cash Marketable securities 185,000| 2,4% 200,000 Accounts receivable (net) .3 | 680,000|7.3% | 575,000 740,000 inventory Prepaid expenses Long-term investments Fixed assets (net) Total assets. 860.000 | g . 2 % . 4 % 104,000| 1-1%| 95,000 450,000 A.6 410,0005.27 5556.0001-10174 5.420,000 or Liabilities Current liabilities.. Long-term liabilities Total liabilities $1,090,000 | 11.7 % | $1,050,000 1 13.4% 2.150,000|25% | 2,050,000 | 2WZ $3,240,000 | 34.7%| $3,100,000 | 39,5 Stockholders' Equity $ 350,000 | 3.7%|$ 350,000) 4.57. Preferred 5% stock, $100 par Common stock, $10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2.550,000 | 273 A 2,550,000 32.5% 3,210.000 l 3A,5A-1,850,000 | 23. $6.110,000 154750,000 05 $9,350,000 | 100% | $7,850,000 100% Name Chapter 15 251 Voyageur Inc. Income Statement For the Year Ended December 31, 2015 Amount Percent Sales Sales returns and allowances Net sales Cost of goods solod $12,800,000 300,000 $12,500,000 100% 7.550,000 $4,950.000 $1,550,000 825,000 S 2,375,000 Selling expenses Administrative expenses . . Total operating expenses . $ 2,575,000 125,000 2,700,000 150,000 2,550,000 Other income Other expense (interest) Income before income taxes .. 937.000 Net income $1,613,000