(Solved): The comparative financial statements prepared at December 31, 2015, for Prince Company showed th ...

The comparative financial statements prepared at December 31, 2015, for Prince Company showed the following summarized data:

 

	2015			2014
Income statement:
Sales revenue	$	191,500	*	$	168,900
Cost of goods sold		113,200			101,700
Gross profit		78,300			67,200
Operating expenses and interest expense		57,700			54,700
Pretax income		20,600			12,500
Income tax		6,180			3,750
Net income	$	14,420		$	8,750
Balance sheet:
Cash	$	4,600		$	6,600
Accounts receivable (net)		15,100			16,300
Inventory		41,400			32,300
Operational assets (net)		46,700			37,600
	$	107,800		$	92,800
Current liabilities (no interest)	$	15,800		$	16,800
Long-term liabilities (10% interest)		44,500			44,500
Common stock (par $5)		29,300			29,300
Retained earnings		18,200			2,200
	$	107,800		$	92,800

*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 Percent Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Amount % % % % % % % PRINCE COMPANY Balance Sheet At December 31, 2015 Cash Accounts receivable (net) Inventory Operational assets (net) Current liabilities (no interest) Long-term liabilities (8% interest) Common stock (par $5) Retained earnings Increase (Decrease) 2015 over 2014 Amount Percent % % % % % de % % %