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The comparative financial statements prepared at December 31, 2017, for Goldfish Company showed the following summarized data: 2017 2016 Statement of Earnings Sales revenue Cost
The comparative financial statements prepared at December 31, 2017, for Goldfish Company showed the following summarized data: 2017 2016 Statement of Earnings Sales revenue Cost of sales $ 277,140* 220,730 $ 235,000 186,000 Gross margin Operating expenses and interest expense 56,410 41,320 49,000 36,900 Earnings before income taxes Income tax expense 15,090 3,990 12,100 3,000 Net earnings $ 11,100 $ 9,100 $ $ Statement of Financial Position Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) 4,880 18,700 47,910 43,730 9,800 22,500 42,000 37,000 $ 115,220 $ 111,300 $ $ Current liabilities (no interest) Non-current liabilities (10% interest) Common shares (6,000 shares) Retained earnings 15,130 42,590 30,000 27,500 18,300 39,400 30,000 23,600 $ 115,220 $ 111,300 *One-third was credit sales. +During 2017, cash dividends amounting to $7,200 were declared and paid. Required: 1. Present component percentages for 2017 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 2017 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
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