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Complete the below table to calculate the balance sheet data in trend percents with 2019 as base year. Required information {The following information applies to
Complete the below table to calculate the balance sheet data in trend percents with 2019 as base year.
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 2021 2020 Sales $ 513,513 $ 393,393 Cost of goods sold 309,135 247,838 Gross profit 204,378 145,555 Selling expenses 72,919 54,288 Administrative expenses 46,216 34,619 Total expenses 119,135 88,907 Income before taxes 85,243 56,648 Income tax expense 15,855 11,613 Net income $ 69,388 $ 45,035 2019 $ 273,000 174,720 98,280 36,036 22,659 58,695 39,585 8,036 $ 31,549 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 2019 Prev 1 of 12 EHT Next 2e2e 2019 KORBIN COMPANY Comparative Balance Sheets December 31 2021 Assets Current assets $ 60,708 Long-term investments @ Plant assets, net 111, 26 Total assets $ 171,734 Liabilities and Equity Current liabilities $ 25,073 Common stock 69,000 Other paid-in capital 8,625 Retained earnings 69,036 Total liabilities and equity $ 171,734 $ 40,632 1,100 100,927 $ 142,659 $ 54,316 3,560 60, 317 $ 118,193 $ 21,256 69,000 8,625 43,778 $ 142,659 $ 20,684 51, 5,667 40,842 $ 118,193 KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 2020 2019 Assets 66.11% % 100.00 % es 100.00 Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity 100.00 100.00 % % % Current liabilities % % 100.00 % Common stock 100.00 100.00 Other paid-in capital Retained earnings Total liabilities and equity 100.00 100.00 % % % Step by Step Solution
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