Required information (The following information applies to the questions displayed below.) The comparative financial statements for Prince Company are below: Year 2 Year 1 $191,000 112,100 78,900 57,300 21,600 6,480 $ 15,120 $167,100 101,400 65,700 54,300 11,400 3,420 $ 7,980 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, 5,200 shares outstanding) Retained earnings Total liabilities and stockholders' equity $ 5,400 14,400 42,000 46,500 $108,300 $ 5,500 17,900 32,800 37,000 $ 93,200 $ 15,800 44,500 26,000 22,000 $108,300 $ 16,800 44,500 26,000 5,900 $ 93,200 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 (ie. 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 % % 70 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 Current liabilities (no interest) Long-term liabilities (10% interest) ) Common stock ($5 par value, 5,200 shares outstanding) Retained earnings % % % Preu