ACTG-04A-92566 (Fall 2022) X Question 8 - Chapter 17 Account X Q course hero - Search X Course Hero X X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https.. . . . Chapter 17 Accounting Problems i Saved Help Save & Exit Submit Check my work 8 Required information Part 2 of 2 Problem 17-2A (Algo) Ratios, common-size statements, and trend percents LO P1, P2, P3 [The following information applies to the questions displayed below.] 3.16 Selected comparative financial statements of Korbin Company follow. points KORBIN COMPANY Comparative Income Statements eBook For Years Ended December 31 2021 2020 2019 Ask Sales $ 441, 471 $ 338, 203 $ 234, 700 Cost of goods sold 265, 766 211, 715 150, 208 Print Gross profit 175, 705 126, 488 84, 492 Selling expenses 62, 689 46, 672 30,980 References Administrative expenses 39, 732 29,762 19, 480 Total expenses 102, 421 76, 434 50, 460 Income before taxes 73, 284 50, 054 34, 032 Income tax expense 13, 631 10, 261 6,908 Net income $ 59, 653 $ 39,793 $ 27, 124 KORBIN COMPANY Camnanativo Rolando Choote Mc Graw Hill 41.F 9:59 AM Sunny Search L 11/20/2022ACTG-04A-92566 (Fall 2022) X Question 8 - Chapter 17 Account X Q course hero - Search X Course Hero X X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https.. . . . Chapter 17 Accounting Problems i Saved Help Save & Exit Submit Check my work 8 Net income $ 59, 653 $ 39,793 $ 27, 124 KORBIN COMPANY Comparative Balance Sheets December 31 Part 2 of 2 2021 2020 2019 Assets Current assets $ 57, 991 $ 38, 813 $ 51, 884 Long-term investments 706 3 , 390 3.16 Plant assets, net 106, 056 96 , 760 57, 628 points Total assets $ 164, 047 $ 136, 273 $ 112, 902 Liabilities and Equity Current liabilities $ 23, 951 $ 20, 305 $ 19, 758 eBook Common stock 64, 000 64, 000 46, 00e Other paid-in capital 8, 000 8 , 00e 5, 111 Ask Retained earnings 68, 096 43, 968 42, 033 Total liabilities and equity $ 164, 047 $ 136, 273 $ 112, 902 Print References Problem 17-2A (Algo) Part 3 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.) Mc Graw Hill 41.F Search L 9:59 AM 1 Sunny 11/20/2022ACTG-04A-92566 (Fall 2022) X Question 8 - Chapter 17 Account X Q course hero - Search X Course Hero X X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https.. . . . Chapter 17 Accounting Problems i Saved Help Save & Exit Submit Check my work 8 Required information KORBIN COMPANY Part 2 of 2 Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 3.16 2021 2020 2019 points Assets Current assets % 100.00 % eBook Long-term investments 100.00 Plant assets, net 100.00 Ask Total assets % % 100.00 % Print Liabilities and Equity References Current liabilities % % 100.00 % Common stock 100.00 Other paid-in capital 100.00 Retained earnings 100.00 Total liabilities and equity % 100.00 % Mc Graw Hill 41.F L 10:00 AM 1 Sunny Search 11/20/2022