[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 $191,000* 112,400 $ 167,800 100,600 Gross profit Operating expenses and interest expense 78,600 57,800 67,200 54,800 Pretax income Income tax 20,800 6,240 12,400 3,720 Net income $ 14,560 $ 8,680 $ Balance sheet: Cash Accounts receivable (net) Inventory Operational assets (net) 4,800 15,800 41,400 46,800 $ 6,600 16,900 32,800 36,200 $108,800 $ 92,500 Current liabilities (no interest) Long-term liabilities (10% interest) Common stock (par $5) Retained earnings $ 14,100 43,400 29,000 22,300 $ 15,100 43,400 29,000 5,000 $108,800 $ 92,500 *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.) Answer is complete and correct. PRINCE COMPANY Income Statement At December 31, 2015 Increase (Decrease) 2015 over 2014 Amount Percent Sales revenue 23,200 13.83 Cost of goods sold 11,800 11.73 Gross profit 11,400 16.96 Operating expenses and interest expense 3,000 5.47 Pretax income 8,400 67.74 Income tax 2,520 67.74 Net income $ 5,880 67.74 $ % % % % % % % Answer is not complete. PRINCE COMPANY Balance Sheet At December 31, 2015 Increase (Decrease) 2015 over 2014 Amount Percent Cash (1,800) (27.27) Accounts receivable (net) (1,100) (6.51) Inventory 8,600 26.22 Operational assets (net) 10,600 29.28 $ 16,300 15.04 Current liabilities (no interest) (1,000) (6.62) Long-term liabilities (9% interest) 0.00 Common stock (par $5) 0.00 Retained earnings 17,300 346.00 $ 16,300 % % % % % % % %