Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended...

   

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Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes. Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets 2021 2020 $ 479,843 $367,599 288,865 190,978 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 68,138 43,186 111,324 79,654 53,669 14,816 11,002 $ 64,838 $ 42,667 KORBIN COMPANY Comparative Balance Sheets December 31 2021 230,852 136,747 50,729 32,349 83,078 $ 62,625 e 114,533 $177,158 $ 25,865 68,000 8,500 74,793 $177,158 2020 $ 41,916 400 104,849 $ 147,165 2019 $ 255,100 163,264 91,836 33,673 21,173 54,846 36,990 7,509 $ 29,481 2019 $ 56,031 4,250 61,645 $ 121,926 $ 21,928 68,000 8,500 48,737 $ 147,165 $ 121,926 $ 21,337 50,000 5,556 45,033 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as base year. (Round your percentage answers to 2 decimal places.) Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 % % % 2020 % % % % 2019 100.00 % 100.00 100.00 100.00 % 100.00 % 100.00 100.00 100,00 100.00 % Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes. Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets 2021 2020 $ 479,843 $367,599 288,865 190,978 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 68,138 43,186 111,324 79,654 53,669 14,816 11,002 $ 64,838 $ 42,667 KORBIN COMPANY Comparative Balance Sheets December 31 2021 230,852 136,747 50,729 32,349 83,078 $ 62,625 e 114,533 $177,158 $ 25,865 68,000 8,500 74,793 $177,158 2020 $ 41,916 400 104,849 $ 147,165 2019 $ 255,100 163,264 91,836 33,673 21,173 54,846 36,990 7,509 $ 29,481 2019 $ 56,031 4,250 61,645 $ 121,926 $ 21,928 68,000 8,500 48,737 $ 147,165 $ 121,926 $ 21,337 50,000 5,556 45,033 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as base year. (Round your percentage answers to 2 decimal places.) Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 % % % 2020 % % % % 2019 100.00 % 100.00 100.00 100.00 % 100.00 % 100.00 100.00 100,00 100.00 %