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Solve for the blue boxes. P12-2 Analyzing Comparative Financial Statements by Using Percentages and Selected Ratios L012-5, 12-6, 12-9 The comparative financial statements prepared at
Solve for the blue boxes.
P12-2 Analyzing Comparative Financial Statements by Using Percentages and Selected Ratios L012-5, 12-6, 12-9 The comparative financial statements prepared at December 31, year 2, for Coldfish Company showed the following summarized data: Year 2 Year 1 Statenent of Earnings Sales revenue Cost of sales Gross margin Operating expenses and interest expense Earnings before income taxes Income tax expense Net earnings Statenent of Financial Position Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) $380,678* $320,000 320,270 268,000 60,400 52,000 41,230 36,600 19,370 15,480 7.448 5,700 $ 11,938 $ 9,700 $ 4,112 15, 130 43,710 25, eze $ 87,970 $ 14,530 35,310 18,000 20.160 $ 88,888 $ 8,100 18,290 38,800 21,000 $ 85,100 $ 17,600 34,100 18,880 15,400 $ 85, 180 Current liabilities (no interest) Non-current liabilities (124 interest) Common shares (6,200 shares) Retained earningst "One-third was credit sales. During Year 2, cash dividends amounting to $7,200 were declared and paid. Required: 1. Present component percentages for Year 2 only. (Input all amounts as positive values. Round the final answers to the nearest whole percent. Percentages may not add exactly due to rounding.) Component Percentages Year 2 55 56 016 56 015 0 % Statement of earnings: Sales revenue Cost of sales Gross margin Operating expenses and interest expense Earnings before income taxes Income tax expense Net earnings Statement of financial position: Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Total assets Current liabilities Long-term liabilities Common shares Retained earnings Total liabilities and shareholders' equity 56 96 56 015 56 96 96 0%Step by Step Solution
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