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The comparative financial statements for Chinook Company are below Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax
The comparative financial statements for Chinook Company are below 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 (interest rate: 10%) Common stock ($5 par value, 7,400 shares outstanding) Retained earnings Total liabilities and stockholders' equity Year 2 Year 1 $ 218,000 119,000 $ 174,000 102,800 99,000 71,200 58,800 54,400 40,200 16,800 10,800 5,400 $ 29,400 $ 11,400 $ 6,800 $ 8,400 15,400 42,800 19,400 38,000 49,200 40,800 $ 114,200 $ 106,600 $ 17,400 $ 18,400 46,400 37,000 13,400 $ 114,200 46,400 37,000 4,800 $ 106,600 Compute component percentages for Year 2. Note: Enter your answers as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34). CHINOOK COMPANY Income Statement Component Percentages Year 2 Sales revenue Cost of goods sold Gross profit Operating expenses Pretax income Income taxes Net income % % % % % % %
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