Required information The following information applies to the questions displayed below.] The comparative financial statements for Prince Company are below: Year 2 Year 1 $191,500 112,400 79,100 57,700 21,400 6,420 $ 14,980 $167,300 102,000 65,300 54,700 10,600 3,180 $ 7,420 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, 5,300 shares outstanding) Retained earnings Total liabilities and stockholders' equity $ 5,900 14,800 40,200 46,700 $107,600 $ 14,400 44,400 26,500 22,300 $107,600 $ 6,100 17,300 32,800 37,300 $ 93,500 $ 15,400 44,400 26,500 7,200 $ 93,500 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 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, 5,300 shares outstanding) Retained earnings Total liabilities and stockholders' equity