None Required information[The following information applies to the questions displayed below.]The comparative financial statements for Chinook Company are below:Income statementSales revenueCost of goods soldGross profitOperating expenses and interest expensePretax incomeIncome taxNet incomeBalance sheetCashYear 2Year 1$$190,000167,000112,000 100,00078,00067,00056,00053,00022,00014,0008,0004,000$ 14,000 $10,000$ 4,000 $ 7,000Accounts receivable (net)InventoryProperty and equipment (net)Total assetsCurrent liabilities (no interest)Long-term liabilities (interest rate: 10%)Common stock ($5 par value, 6,000 sharesoutstanding)Retained earnings14,00018,00040,00034,00045,00038,000$$ 97,000103,000$ 16,000 $17,00045,00045,00030,000 30,00012,000 5,000$Total liabilities and stockholders' equity$ 97,000103,000Required:1. Complete the following columns for each item in the preceding comparative financial statements:Complete this question by entering your answers in the tabs below.Income Balancestateme.... sheetComplete the following columns for each item in the preceding comparative financialstatements:Note: Enter your percentage answers rounded to 2 decimal places (i.e. 0.1234 should beentered as 12.34). Decreases should be indicated by a minus sign.Sales revenueCHINOOK COMPANYIncome StatementIncrease (Decrease)from Year 1 to Year 2Amount Percent%%%%%%%Income statementBalance sheet >Cost of goods soldGross profitOperating expenses and interestexpensePretax incomeIncome taxNet incomeShow less▲

The Statement of Financial Position -The statement of financial position is the position of the…

Required information [The following information applies to the questions displayed below.] The comparative financial statements for Chinook Company are below: Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Year 2 Year 1 $ $ 190,000 167,000 112,000 100,000 78,000 67,000 56,000 53,000 22,000 14,000 8,000 4,000 Net income Balance sheet Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (interest rate: 10%) Common stock ($5 par value, 6,000 shares outstanding) $ 14,000 $10,000 $ 4,000 $7,000 14,000 40,000 18,000 34,000 45,000 38,000 $ 103,000 $ 97,000 $ 16,000 $17,000 45,000 45,000 30,000 30,000 Retained earnings 12,000 5,000 Total liabilities and stockholders' equity $ 103,000 $ 97,000 Required: 1. Complete the following columns for each item in the preceding comparative financial statements: Complete this question by entering your answers in the tabs below. Income Balance stateme... sheet