P12-1 Analyzing Comparative Financial Statements by Using Percentages LO12-5

Please answer 2-b and 2-d

P12-1 Analyzing Comparative Financial Statements by Using Percentages LO12-5 The comparative financial statements prepared at December 31, Year 2, for Goldfish Company showed the following summarized data: Year 2 Year 1 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) $265, 320* $225,000 207,760 175,000 57,560 50.000 42,720 38.100 14,840 11,900 3360 2,900 $ 10,90 $ 9,000 $4,730 10,290 46.780 44,340 $114,140 $ 15,000 41,970 30,000 27,000 5114,140 $ 9,500 22,000 41.000 37,500 $110,000 $ 18,200 38,000 30,000 3.800 $110,000 Current liabilities (no Interest) hon-current abilities (10% interest) Comon shares (6,000 shares) Retained earnings 2-b. What was the percentage change in the income tax rate? (Round intermediate calculations and final answer to 2 decimal places.) Percentage change increase 2.d. What was the percentage change for the markup realized on sales? (Round intermediate calculations and final answer to 1 decimal place.) Percentage change % decrease R