! Required information (The following information applies to the questions displayed below.) The comparative financial statements for Prince Company are below: Year 2 Year 1 $190,400 112,500 77,900 57,300 20,600 6,180 $ 14, 420 $167,200 101,000 66,200 54,300 11,900 3,570 $ 8,330 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 (9 interest) Common stock ($5 par value, 6,000 shares outstanding) Retained earnings Total liabilities and stockholders' equity $ 5,100 14,000 40,700 45,400 $105, 200 $ 15,800 44,700 30,000 14,700 $ 105, 200 $ 7,000 17,300 32,100 36,900 $ 93,300 $ 16,800 44,700 30,000 1,800 $ 93,300 Required: 1. Complete the following columns for each item in the preceding comparative financial statements: (Enter your answer as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34). Decreases should be indicated by a minus sign.) PRINCE COMPANY Income Statement Increase (Decrease) from Year 1 to Year 2 Amount Percent Sales revenue % Cost of goods sold % Gross profit % Operating expenses and interest expense % Pretax income % Income tax % Net income % PRINCE COMPANY Balance Sheet Increase (Decrease) from Year 1 to Year 2 Amount Percent Cash % % Accounts receivable (net) Inventory Property and equipment (net) % % Total Assets $ 0 % % Current liabilities (no interest) Long-term liabilities (9% interest) Common stock ($5 par value, 6,000 shares outstanding) Retained earnings Total liabilities and stockholders' equity % $ 0 %