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help me asap please and thank you Selected comparative financial statements of Korbin Company follow. 13 KORBIN COMPANY Comparative Income Statements For Years Ended December
help me asap please and thank you
Selected comparative financial statements of Korbin Company follow. 13 KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 Sales $ 393,505 $ 301,457 Cost of goods sold 236,890 189,918 Gross profit 156,615 111,539 Selling expenses 55,878 41,601 Administrative expenses 35,415 26,528 Total expenses 91, 293 68, 129 Income before taxes 65, 322 43,410 Income tax expense 12, 150 8,899 Net income $ 53, 172 $ 34,511 19-22 2019 $ 209, 200 133,888 75,312 27,614 17,364 44,978 30,334 6,158 $ 24,176 2020 2019 KORBIN COMPANY Comparative Balance Sheets December 31 2021 Assets Current assets $ 59,073 Long-term investments @ Plant assets, net 111,413 Total assets $ 170,486 Liabilities and Equity Current liabilities $ 24,891 Common stock 67,000 Other paid-in capital 8,375 Retained earnings 70, 220 Total liabilities and equity $ 170,486 $ 39,538 500 101,584 $ 141,622 $ 52,853 4,610 59,871 $ 117,334 $ 21,102 67,000 8,375 45, 145 $ 141,622 $ 20,533 49,000 5,444 42,357 $ 117,334 Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Numerator: Denominator Current ratio Current ratio to 1 2021 2020 2019 H11 11 to 1 to 1 / Step by Step Solution
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