Required information [The following information applies to the questions displayed below.) The comparative financial statements for Prince Company are below: Year 2 Year 1 $194,000 113,000 81,000 56,400 24,600 8,400 $ 16,200 $168,000 100,400 67,600 53,200 14,400 4,200 $ 10,200 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, 6,200 shares outstanding) Retained earnings Total liabilities and stockholders' equity $ 4,400 14,200 40,400 45,600 $104,600 $ 16, 200 45,200 31,000 12,200 $104,600 $ 7,200 18, 200 34,800 38,400 $ 98,600 $ 17,200 45,200 31,000 5,200 $ 98,600 1. Compute component percentages for Year 2. (Enter your answers as a percentage rounded to 2 decimal places (l.e. 0.1234 should be entered as 12.34).) PRINCE COMPANY Income Statement Component Percentages Year 2 100.00% 58.25 % 41.75% Sales revenue Cost of goods sold Gross profit on sales Operating expenses Pretax income Income taxes Net income 29.07% 12.68% 4.33% 8.35% PRINCE COMPANY Balance Sheet Component Percentages Year 2 4.21% % % % 4.21% Cash Accounts receivable (net) Inventory Operational assets (net) Total assets Current liabilities Long-term liabilities (10% interest) Common stock (55 par value, 6,200 shares outstanding) Retained earnings Total liabilities and stockholders' equity % % % % 0.00%