[The following information applies to the questions displayed below.) The comparative financial statements for Prince Company are below: Year 2 Year 1 $190,000 112,000 78,000 56,000 22,000 8,000 $ 14,000 $167,000 100,000 67,000 53,000 14,000 4,000 $ 10,000 Income statement: Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet: Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (10% interest) Common stock ($5 par value, 6,000 shares outstanding) Retained earnings ota liabilities and stockholders' equity $ 4,000 14,000 40,000 45,000 $ 103,000 $ 16,000 45,000 30,000 12,000 $ 103,000 $ 7,000 18,000 34,000 38,000 $ 97,000 $ 17,000 45,000 30,000 5,000 $ 97,000 Required: 1. Compute component percentages for Year 2. (Enter your answers as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) PRINCE COMPANY Income Statement Component Percentages Year 2 % Sales revenue % Cost of goods sold Gross profit on sales Operating expenses % % Pretax income % Income taxes % Net income % PRINCE COMPANY Balance Sheet Component Percentages Year 2 % Cash % % Accounts receivable (net) Inventory Operational assets (net) Total assets % 0.00% Current liabilities % % % Long-term liabilities (10% interest) Common stock ($5 par value, 6,000 shares outstanding) Retained earnings Total liabilities and stockholders' equity % 0.00 %