Problem $13-2$A $($Algo$)$ Ratios, common$-$size statements, and trend percents LO P$1,$ P$2,$ P$3$

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$[$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 $31$

$202120202019$

Sales $ $544,173$ $ $416,881$ $ $289,300$

Cost of goods sold $327,592264,303185,152$

Gross profit $216,581152,578104,148$

Selling expenses $77,27357,53038,188$

Administrative expenses $48,97636,68624,012$

Total expenses $126,24994,21662,200$

Income before taxes $90,33258,36241,948$

Income tax expense $16,80211,9648,515$

Net income $ $73,530$ $ $46,398$ $ $33,433$

KORBIN COMPANY

Comparative Balance Sheets

December $31$

$202120202019$

Assets

Current assets $ $53,003$ $ $35,475$ $ $47,422$

Long$-$term investments $01,0004,770$

Plant assets, net $101,52591,89154,159$

Total assets $ $154,528$ $ $128,366$ $ $106,351$

Liabilities and Equity

Current liabilities $ $22,561$ $ $19,127$ $ $18,611$

Common stock $72,00072,00054,000$

Other paid$-$in capital $9,0009,0006,000$

Retained earnings $50,96728,23927,740$

Total liabilities and equity $ $154,528$ $ $128,366$ $ $106,351$

Problem $13-2$A $($Algo$)$ Part $1$

Required:

$1.$ Complete the below table to calculate each year's current ratio.