P12-1 Analyzing Comparative Financial Statements by Using Percentages LO12-5 The comparative financial statements prepared at December 31, 2017, for Goldfish Company showed the following summarized data: 2017 2016 Statement of Earnings Sales revenue Cost of sales $ 241.700* 181,850 $205,000 153,000 Gross margin Operating expenses and interest expense 59,850 45,510 52,000 40,500 Earnings before income taxes Income tax expense 14,340 3,610 11,500 2,700 Net earnings $ 10,730 $ 8,800 $ Statement of Financial Position Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) 4,230 17,450 44,480 45,500 $ 8,500 21,000 39.000 38,500 $ 111,660 $107,000 Current liabilities (no interest) Non-current liabilities (10% interest) Common shares (6,000 shares) Retained earningst $ 13,780 43,150 30,000 24,730 $ 16,500 39,000 30,000 21,500 $ 111,660 $107,000 *One-third was credit sales. During 2017, cash dividends amounting to $7,500 were declared and paid. 2-b. What was the percentage change in the average income tax rate? (Round intermediate calculations and final answer to 2 decimal places.) Percentage change % increase 2-c. What was the amount of cash inflow from revenues for 2017? Amount of cash inflow 2-d. What was the percentage change for the average markup realized on sales? (Round intermediate calculations and final answer to 1 decimal place.) Percentage change % decrease