Required information [The following information applies to the questions displayed below.] The comparative financial statements for Prince Company are below: Year 2 Year 1 $210,000 117,000 93,000 58,000 35,000 10,000 $ 25,000 $172,000 102,000 70,000 54,000 16,000 5,000 $ 11,000 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, 7,000 shares outstanding) Retained earnings Total liabilities and stockholders' equity $ 6,000 15,000 42,000 48,000 $111,000 $ 17,000 46,000 $ 8,000 19,000 38,000 40,000 $ 105,000 $ 18,000 46,000 35,000 13,000 $111,000 35,000 6,000 $ 105,000 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 2 100.001% 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 0.00 % Cash Accounts receivable (net) Inventory Operational assets (net) Total assets Current liabilities Long-term liabilities (10% interest) Common stock ($5 par value, 7,000 shares outstanding) Retained earnings Total liabilities and stockholders' equity 0.00 %