The comparative financial statements for Prince Company are below: Year 2 Year 1 $172,500 102,200 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) $212,000 117,500 94,500 58, 200 36, 300 10,200 $ 26,100 70,300 54,100 16, 200 5, 100 $ 11,100 $ 8,100 19, 100 38,400 Inventory $ 6,200 15, 100 42,200 48,300 $111,800 $ 17,100 46,100 40,200 Property and equipment (net) Total assets ca curre Current liabilities (no interest) Long-term liabilities (12% interest) Common stock ($5 par value, 7,100 shares outstanding) Retained earnings Total liabilities and stockholders' equity $105,800 $ 18,100 46,100 35,500 35,500 13,100 $111,800 6,100 $105,800 Re 1. Compute component percentages for Year 2. (Enter your answers as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) PRINCE COMPANY Income Statement Component Percentages Year 2 % Sales revenue % % Cost of goods sold Gross profit on sales Operating expenses Pretax income % % Income taxes % Net income % PRINCE COMPANY Balance Sheet Component Percentages Year 2 % % % % 0.00 % Cash Accounts receivable (net) Inventory Operational assets (net) Total assets Current liabilities Long-term liabilities (12% interest) Common stock ($5 par value, 7,100 shares outstanding) Retained earnings Total liabilities and stockholders' equity % % % % 0.00 %