Soved P12-1 Analyzing Comparative Financial Statements by Using Percentages L012-5 The comparative financial statements prepared at December 31, Year 2, for Goldfish Company showed the following summarized dat Year 2 Year 1 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) $300,770 $255,000 246,650 208,000 54,120 47,000 38,520 34,500 15,600 12,500 4,250 3,200 $ 11,350 $ 9,300 ces Current liabilities (no interest) Non-current liabilities (10% interest) Common shares (6,000 shares) Retained earningst $ 4,680 20,780 50,200 41,380 $117,040 $ 17,960 43,030 36,000 20,050 $117,040 $ 9,400 25,000 44,000 35,000 $113,400 $ 21,800 39,500 36,000 16,100 $113,400 *One-third was credit sales. During Year 2 cash dividends amounting to $7,400 were declared and paid. Required: 1. Complete the following columns for each item in the preceding comparative financial statements (Negative answers should be indicated by a minus sign. Round percentage answers to 2 decimal places (i.e., 0.1243 should be entered as 12.43).): Increase (Decrease) Year 2 over Year 1 Amount Percentage Statement of earnings: D. Prey 1 of 3 Next > MacBook Air During Year 2. cash dividends amounting to $7,400 were declared and paid. Required: 1. Complete the following columns for each item in the preceding comparative financial statements (Negative answers should be indicated by a minus sign. Round percentage answers to 2 decimal places (i.e., 0.1243 should be entered as 12.43).): Increase (Decrease) Year 2 over Year 1 Amount Percentage 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) $ 0 $ 0 Current liabilities Long-term debt Common shares Retained earnings $ 0 Prev 1 of 3 wer RE Next >