The comparative financial statements prepared at December 31. year 2. for Goldfish Company showed the following summarized data: 3 Year Year 1 02:40:32 Statement of Earnings Sales revue Cost of sales Gros margin Operating expenses and interest Esenin before income taxes Income tax expense Net warning Statement of Financial Position Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) $195,000 $165,000 120,000 100,000 75,000 65,00 GO $2.000 15,000 12,000 4. 2.000 $ 11,000 $ 9,000 Current vilities (ne Interest) ton current liabilities (10% interest) Common shares (6.000 shares) Retained morning $4,000 $3,000 15,000 111,000 40,000 35,000 45.000 38,000 $104,000 599,000 16,00 19,000 45, 19.000 30,000 30,000 13,000 11,000 $184,000$ 99,00 *One third was credit sales During year 2, cash dividends amounting to $9,000 were declared and paid 3 Required: 1. Present component percentages for year 2 only (Input all amounts os positive values. Round the final answers to the nearest whole percent. Percentages may not add exactly due to rounding.) Component Percentages Year 2 8 02:48:00 . Statement of carings Sales revenue Cost of sales Grossmagi Operating expenses and interest expense Earnings before income taxes Income tax expense Notatning Statement of financial position Cash Accounts receivable (not) Inventory Proporty, plant and equipment (not) Totalassos Current liabilities Long term bites Common shares Retained earrings Total band shareholders equity Compute the following for year 2: 2-a. Percentage markup on sales. (Round percentage answer to 1 decimal place (i... 0.124 should be entered os 12.4).) Avurngo porcentage 2b Income tax rate. (Round percentage answer to 1 decimal place (10,0.124 should be entered as 12.4).) Average income tax 26. Net profit margin ratio. Was it a good or poor Indicator of performance? (Round percentage answer to 2 decimal places (les 0.1243 should be entered as 12.43).) Not profit margin ratio 20. Percentage of total resources invested in property, plant, and equipment. (Round percentage answer to 2 decimal places lie, 0.1243 should be entered as 12.43).) Percentage 2-e, Debtto-equlty ratio. Interpret the result. (Round the final answer to 2 decimal places.) Bebetto equity ratio 2. Return on assets. Assume that long-term debt increased to $45.000 in month 1 of year 2. (Round intermediate calculations to 3 decimal places and percentage answer to 2 decimal places lie., 0.1243 should be entered as 12.43).) Return on assets 2:9. Return on equity. (Round percentage answer to 2 decimal places li.., 0.5243 should be entered as 12.43).) Ritum on equity 2h. Financial leverage percentage. Did borrowing from creditors benefit shareholders? (Round intermediate calculations to 2 decimal places and percentage answer to 1 decimal place (.e., 0.124 should be entered as 12,4).) Financilovemod porcentage 98
