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The comparative financial statements prepared at December 31, Year 2, for Goldfish Company shc Statement...

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Accounting

The comparative financial statements prepared at December 31, Year 2, for Goldfish Company shc 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) Current liabilities (no interest) Non-current liabilities (10% interest) Common shares (6,000 shares) Retained earningst Year 2 $ $324,420* 272,590 51,830 45,000 35,110 31,600 16,720 13,400 5,130 3,900 $ 11,590 $ 9,500 Year 1 4,480 19,120 54,760 36,650 $115,010 $275,000 230,000 $ 9,000 23,000 48,000 31,000 $111,000 $ 10,760 $ 13,000 39,660 38,600 42,000 42,000 22,590 17,400 $115,010 $111,000 *One-third was credit sales. +During Year 2, cash dividends amounting to $6,400 were declared and paid. Required: 1. Using the concept of horizontal analyis, complete the following columns for each item in the p statements (Negative answers should be indicated by a minus sign. Round percentage answe should be entered as 12.

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