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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 8 0
The comparative financial statements prepared at December 31. Year 2 for Goldfish Company showed the following summarized data: 11 Year 2 Year 1 8 0 22:33 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) $288,950 $245,000 233,689 197,000 55,270 48,000 39,920 35,700 15,350 12,300 4,130 3,100 $ 11,220 $ 9,200 eBook $ 4,780 19,120 49,060 43,150 $116, 110 $ 15,220 40,670 42,000 18,220 $116, 110 $ 9,500 23,000 43,000 36,500 $112, 100 $ 18,400 37,400 42,000 14,300 $112,100 Current liabilities (no interest) Non-current liabilities (10% interest) Common shares (6,000 shares) Retained earningst *One-third was credit sales. TDuring Year 2. cash dividends amounting to $7,300 were declared and paid. Required: 1. Complete the following columns for each item in the preceding comparative financial statements (Negative answers should be Indicated by a minus sign. Round percentage answers to 2 decimal places (l.e., 0.1243 should be entered as 12.43).): Increase (Decrease) Year 2 over Year 1 Amount Percentage Statement of earnings: Sales revenue 0 Cost of sales Gross margin Operating expenses and interest expense Neyt 11 *One-third was credit sales. During Year 2 cash dividends amounting to $7,300 were declared and paid. Required: 1. Complete the following columns for each item in the preceding comparative financial statements (Negative answers should be Indicated by a minus sign. Round percentage answers to 2 decinal places (.e., 0.1243 should be entered as 12.43).): 012:04 Increase (Decrease) Year 2 over Year 1 Amount Percentage eBook Statement of earnings: Sales revenue 0 0 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) $ 0 $ Current liabilities Long-term debt Common shares Retained earnings S Saved 11 2-a. By what amount did working capital change? 8 01:23:25 Change in working capital eBook 2-b. What was the percentage change in the income tax rate? (Round Intermediate calculations and final answer to 2 decimal places.) Percentage change % 2.c. What was the amount of cash collections from customers in year 2? Amount of cash infow 11 8. 012304 eBook 2-c. What was the amount of cash collections from customers in year 2? Amount of cash inflow 2-d. What was the percentage change for the markup realized on sales? (Round Intermediate calculations and final answer to 1 decimal place.) Percentage change %
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