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please show your workings The comparative financial statements for Prince Company are below Year 2 Income statement Sales revenue Cost of goods sold Gross profit
please show your workings
The comparative financial statements for Prince Company are below Year 2 Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet: Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (12% interest) Common stock ($8 par value, 4,075 shares outstanding)) Retained earnings Total liabilities and stockholders' equity ear $216,000 118,500 $173,500 102,600 70,900 54,300 16,600 5,300 58,600 38,900 10,600 20:90011300 S 6,600 15,300 42,600 $ 113,400 17.300 46,300 32,600 17,200 $ 113,400 19,300 35,300 40,600 $ 103,500 19,600 46,300 31,300 6,300Step by Step Solution
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