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[The following information applies to the questions displayed below.) The comparative financial statements prepared at December 31, 2015, for Prince Company showed the following summarized
[The following information applies to the questions displayed below.) The comparative financial statements prepared at December 31, 2015, for Prince Company showed the following summarized data: 2015 2014 Income statement: Sales revenue Cost of goods sold $190,300* 113,700 $168,200 100,200 Gross profit Operating expenses and interest expense 76,600 57,200 68,000 54,200 Pretax income Income tax 19,400 5,820 13,800 4,140 Net income $ 13,580 $ 9,660 Balance sheet: Cash Accounts receivable (net) Inventory Operational assets (net) $ 4,100 15,400 40,800 46,200 $ 6,600 16,000 33,000 37,400 $106,500 $ 93,000 Current liabilities (no interest) Long-term liabilities (10% interest) Common stock (par $5) Retained earnings $ 15,600 43,200 28,300 19,400 $ 16,600 43,200 28,300 4,900 $106,500 $ 93,000 * One-third was credit sales. 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 Net income PRINCE COMPANY Balance Sheet At December 31, 2015 Increase (Decrease) 2015 over 2014 Amount Percent Cash Accounts receivable (net) Inventory Operational assets (net) Current liabilities (no interest) Long-term liabilities (9% interest) Common stock (par $5) Retained earnings $ 2. By what amount did working capital change? Working capital change
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