Question: I need help answering this problem! Required Information [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow.

I need help answering this problem!  I need help answering this problem! Required Information [The following information
applies to the questions displayed below.] Selected comparative financial statements of Korbin

Required Information [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 417,770 5 320,846 $ 222,189 Cost of goods sold 251,498 201,629 142,144 Gross profit 166, 272 118,417 79,956 Selling expenses 59,323 44,166 29, 317 Administrative expenses 37,599 28,164 18,434 Total expenses 96,922 72,330 47.751 Income before taxes 69,350 46,887 32,2es Income tax expense 12,899 9.448 6,538 Net income $ 56,451 536,639 $ 25,667 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 $ 55,825 $ 37,363 e dee 1e5,285 95,870 $ 161, 110 $ 133,633 $49.946 4.580 56,355 $ 112,881 Assets Current assets Long-term Investments Plant assets, het Total assets Liabilities and Equity Current 15 abilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 23,522 $19.941 $ 19,484 60, Bee 18. 50.000 8.00 a. See 5.556 61.08 37.392 35.921 $ 161,110 $ 13,633 $ 110.381 2. Complete the below table to calculate the balance sheet data in trend percents with 2017 as base yeat (Round your percentage answers to 2 decimal places.) 3. Complete the below table to calculate the balance sheet data in trend percents with 2017 as base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2013, 2018 and 2017 2019 2018 2017 % 100.00% 10000 100.00 100.00 Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earrings Total liabilities and equity % 100.00% 100.00 100.00 100.00 100.00% 5

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