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The comparative financial statements prepared at December 31, Year 2, for Goldfish Company showed the following summarized data: 11 Year 2 Year 1 Statement of
The comparative financial statements prepared at December 31, Year 2, for Goldfish Company showed the following summarized data: 11 Year 2 Year 1 Statement of Earnings Sales revenue $277,149\" $235,666 Cost of sales 226,736 186,666 Gross margin 56,416 49,666 Operating expenses and interest expense 41,326 36,966 Earnings before income taxes 15,696 12,166 Income tax expense 3,996 3,666 eEook Net earnings $ 11,166 $ 9,166 Statement of Financial Position Cash $ 4,886 $ 9,866 Accounts receivable (net) 18,766 22,566 Inventory 47,916 42,666 Property, plant, and equipment (net) 43,736 37,666 $115,226 $111,366 Current liabilities (no interest) 5 15,136 $ 18,366 Non-current liabilities (16% interest) 42,596 39,466 Common shares (6,666 shares) 36,666 36,666 Retained earnings+ 27,566 23,666 $115, 229 $111, 399 \"One-third was credit sales. TDuring Year 2, cash dividends amounting to $7,200 were declared and paid. 'Une-tnirci was credit sales. TDuring Year 2, cash dividends amounting to $7,200 were declared and paid. 1 1 Required: 1. Complete the following columns for each item in the preceding comparative nancial statements (Negative answers should be indicated by a minus sign. Round percentage answers to 2 decimal places (i.e., 0.1243 should be entered as 1243).): eBook Statement of eamings: Sales revenue Cost of sales Gross margin Operating expenses and interest expense Earnings before income taxes Income tax expense Net earnings Statement of nancial position: Cash Accounts receivable (net) Inventory 2-c. What was the amount of cash collections from customers in year 2? 2-d. What was the percentage change for the markup realized on sales? (Round intermediate calculations and nal answer to 1 eBook decimal place.)
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