! Required information [The following information applies to the questions displayed below.] The comparative financial statements for Chinook Company are below Sales revenue Income statement Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Year 2 $ 190,000 112,000 78,000 56,000 22,000 Year 1 $ 167,000 100,000 67,000 53,000 14,000 4,000 Income tax Net income Balance sheet Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (interest rate: 10%) Common stock ($5 par value, 6,000 shares outstanding) Retained earnings Total liabilities and stockholders' equity Required: 1. Compute component percentages for Year 2. Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet 8,000 $ 14,000 $ 4,000 14,000 40,000 45,000 $ 10,000 $ 7,000 18,000 34,000 38,000 $ 103,000 $ 97,000 $ 16,000 45,000 30,000 $ 17,000 45,000 30,000 12,000 5,000 $ 103,000 $ 97,000 Compute component percentages for Year 2. Note: Enter your answers as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34). CHINOOK COMPANY Sales revenue Cost of goods sold Gross profit Operating expenses Pretax income Income taxes Net income Income Statement Component Percentages Year 2 % % % % % % % Income Statement Balance Sheet > Income Statement Balance Sheet Compute component percentages for Year 2. Note: Enter your answers as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34). Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities CHINOOK COMPANY Balance Sheet Component Percentages Year 2 % % % % 0.00 % % % % % 0.00 % < Income Statement Balance Sheet > Long-term liabilities (interest rate: 10%) Common stock ($5 par value, 6,000 shares outstanding) Retained earnings Total liabilities and stockholders' equity