The comparative financial statements prepared at December 31, 2015, for Prince Company showed the following summarized...

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The comparative financial statements prepared at December 31, 2015, for Prince Company showed the following summarized data: 2015 2014 Income statement: Sales revenue $190,200* $168,600 Cost of goods sold 112,900 100,900 Gross profit 77,300 67,700 Operating expenses and interest 56,700 53,700 expense Pretax income Income tax 20,600 6,180 14,000 4,200 Net income Balance sheet: Cash Accounts receivable (net) Inventory Operational assets (net) $ 14,420 $ 9,800 $ 4,900 $ 5,100 15,600 17,700 41,600 32,900 46,200 36,300 Balance sheet: Cash $ 4,900 $ 5,100 Accounts receivable (net) Inventory 15,600 17,700 41,600 32,900 Operational assets (net) 46,200 36,300 $108,300 $ 92,000 Current liabilities (no interest) $ 15,900 $ 16,900 Long-term liabilities (10% interest) 44,600 44,600 Common stock (par $5) 28,400 28,400 Retained earnings 19,400 2,100 $108,300 $ 92,000 *One-third was credit sales. Required: 1. Complete the following columns for each item in the preceding comparative financial Required: 1. Complete the following columns for each item in the preceding comparative financial statements: (Round your percentage answers to 2 decimal places.(i.e., 0.1234 should be entered as 12.34). Decreases should be indicated by a minus sign.) PRINCE COMPANY Income Statement At December 31, 2015 Increase (Decrease) 2015 over 2014 Amount Percent Sales revenue Cost of goods sold % % Gross profit Operating expenses and interest expense Pretax income % % % Income tax % 13 < Prev 10 11 of 12 Next > The comparative financial statements prepared at December 31, 2015, for Prince Company showed the following summarized data: 2015 2014 Income statement: Sales revenue $190,200* $168,600 Cost of goods sold 112,900 100,900 Gross profit 77,300 67,700 Operating expenses and interest 56,700 53,700 expense Pretax income Income tax 20,600 6,180 14,000 4,200 Net income Balance sheet: Cash Accounts receivable (net) Inventory Operational assets (net) $ 14,420 $ 9,800 $ 4,900 $ 5,100 15,600 17,700 41,600 32,900 46,200 36,300 Balance sheet: Cash $ 4,900 $ 5,100 Accounts receivable (net) Inventory 15,600 17,700 41,600 32,900 Operational assets (net) 46,200 36,300 $108,300 $ 92,000 Current liabilities (no interest) $ 15,900 $ 16,900 Long-term liabilities (10% interest) 44,600 44,600 Common stock (par $5) 28,400 28,400 Retained earnings 19,400 2,100 $108,300 $ 92,000 *One-third was credit sales. Required: 1. Complete the following columns for each item in the preceding comparative financial Required: 1. Complete the following columns for each item in the preceding comparative financial statements: (Round your percentage answers to 2 decimal places.(i.e., 0.1234 should be entered as 12.34). Decreases should be indicated by a minus sign.) PRINCE COMPANY Income Statement At December 31, 2015 Increase (Decrease) 2015 over 2014 Amount Percent Sales revenue Cost of goods sold % % Gross profit Operating expenses and interest expense Pretax income % % % Income tax % 13 < Prev 10 11 of 12 Next >