Required information [The following information applies to the questions displayed below.] The comparative financial statements for Prince Company are below: Year 2 Year 1 $ 230,000 122,000 108,000 60,000 48,000 12,000 $ 36,000 $177,000 104,000 73,000 55,000 18,000 6,000 $ 12,000 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 (10% interest) Common stock ($5 par value, 8,000 shares outstanding) Retained earnings Total liabilities and stockholders' equity $ 8,000 16,000 44,000 51,000 $ 119,000 $ 18,000 47,000 $ 9,000 20,000 40,400 42,000 $111,400 $ 19,000 47,000 40,000 40,000 14,000 $119,000 5,400 $111,400 Required: 1. Compute component percentages for Year 2. (Enter your answers as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) PRINCE COMPANY Income Statement Component Percentages Year 2 Sales revenue Cost of goods sold Gross profit on sales Operating expenses Pretax income Income taxes Net income PRINCE COMPANY Balance Sheet Component Percentages Year 2 Cash olo Accounts receivable (net) Inventory Operational assets (net) Total assets Current liabilities Long-term liabilities (10% interest) Common stock ($5 par value, 8,000 shares outstanding) Retained earnings Total liabilities and stockholders' equity