ACTG-04A-92566 (Fall 2022) X Question 7 - Chapter 17 Account X Q course hero - Search X *Homework Help - Q&A from On X X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https... A C . . . Chapter 17 Accounting Problems i Saved Help Save & Exit Submit Check my work 7 Required information Problem 17-2A (Algo) Ratios, common-size statements, and trend percents LO P1, P2, P3 [The following information applies to the questions displayed below.] Part 1 of 2 Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY 3.12 Comparative Income Statements points For Years Ended December 31 2021 2020 2019 Sales $ 441, 471 $ 338, 203 $ 234, 700 150, 208 eBook Cost of goods sold 265, 766 211, 715 Gross profit 175, 705 126, 488 84, 492 Ask Selling expenses 62, 689 46, 672 30, 980 Administrative expenses 39, 732 29, 762 19, 480 Print Total expenses 2, 421 76, 434 50, 460 Income before taxes 73, 284 50, 054 34, 032 References Income tax expense 13, 631 10, 261 6, 908 Net income $ 59, 653 $ 39,793 $ 27, 124 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 2019 Assets Mc Graw Hill 41.F Sunny Search 10:01 AM 11/20/2022ACTG-04A-92566 (Fall 2022) X Question 7 - Chapter 17 Account X Q course hero - Search X *Homework Help - Q&A from On X X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https... A C . . . Chapter 17 Accounting Problems i Saved Help Save & Exit Submit Check my work 7 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 2019 Assets Part 1 of 2 Current assets $ 57, 991 $ 38, 813 $ 51, 884 Long-term investments 700 3, 390 Plant assets, net 106, 056 96, 760 57, 628 Total assets $ 164, 047 $ 136, 273 $ 112, 902 3.12 Liabilities and Equity points Current liabilities $ 23, 951 $ 20, 305 $ 19, 758 Common stock 64, 000 000't9 46, 000 Other paid-in capital 8, 000 090'8 5 , 111 68, 096 43, 968 42, 033 eBook Retained earnings Total liabilities and equity $ 164, 047 $ 136, 273 $ 112, 902 Ask Print References Problem 17-2A (Algo) Part 2 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) Mc Graw Hill 41.F Search 10:01 AM Sunny L 11/20/2022ACTG-04A-92566 (Fall 2022) X Question 7 - Chapter 17 Account X Q course hero - Search X *Homework Help - Q&A from On X X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https... A w C . . . Chapter 17 Accounting Problems i Saved Help Save & Exit Submit Check my work 7 Required information KORBIN COMPANY Part 1 of 2 Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 3.12 2021 2020 2019 points Sales % % % Cost of goods sold eBook Gross profit Selling expenses Ask Administrative expenses Print Total expenses References Income before taxes Income tax expense Net income Mc Graw Hill 41.F Search L 10:01 AM Sunny 11/20/2022