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P 1 2 - 1 ( Algo ) Analyzing Comparative Financial Statements by Using Percentages ( Horizontal Analysis ) L 0 1 2 - 6
PAlgo Analyzing Comparative Financial Statements by Using Percentages Horizontal Analysis Lb What was the percentage change in the income tax rate? Round intermediate calculations and final answer to decimal
places.
Percentage change
increase
increase
c What was the amount of cash collections from customers in year
Amount of cash inflow
d What was the change for the gross profit margin ratio? Round intermediate calculations and final answer to decimal place.
The comparative financial statements prepared at December Year for Goldfish Company showed the following summarized data:
tableYear Year Statement of EarningsSales revenue,$$Cost of sales,Gross profit,Operating expenses and interest expense,tableEarnings before income taxesIncome tax expensetabletableNet earnings,$$tableStatement of Financial PositionCashAccounts receivable netInventoryProperty plant, and equipment nettabletableProperty plant, and equipment net$$Current liabilities no interestbar $$Longterm debt interest rate: Common shares sharesRetained earningst,$$
Onethird was credit sales.
During Year cash dividends amounting to $ were declared and paid.
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