im confused i need help

s - Chapter 13 Saved Problem 13-2A (Algo) Ratios, common-size statements, and trend percents LO P1, P2, [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 $ 383,724 $ 293,964 Cost of goods sold 231,002 185,785 Gross profit 152,722 108,179 Selling expenses 54,489 40,567 Administrative expenses 34,535 25,869 Total expenses 89,024 66,436 Income before taxes 63,698 41,743 Income tax expense 11,848 8,557 Net income $ 51,850 $ 33,186 2019 $ 204,000 130,560 73,440 26,928 16,932 43,860 29,580 6,005 $ 23,575 2019 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 Assets Current assets $ 56,332 $ 37,704 Long-term investments 0 800 Plant assets, net 104,618 95,197 Total assets $ 160,950 $ 133, 701 Liabilities and Equity Current liabilities $ 23,499 $ 19,921 Common stock 64,000 64,000 Other paid-in capital 8,000 8,000 Retained earnings 65,451 41,780 Total liabilities and equity $ 160,950 $ 133,701 $ 50,401 4,590 55,780 $ 110,771 $ 19,385 46,000 5,111 40,275 $ 110,771 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 23,499 64,000 8,000 65,451 $ 160,950 $ 19,921 64,000 8,000 41,780 $ 133, 701 $ 19,385 46,000 5,111 40,275 $ 110,771 Problem 13-2A (Algo) Part 1 Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Denominator: II 1 Current ratio Current ratio Numerator: Cost of goods sold = 1 11 oto 1 / 2021 0 to 1 1 = = 2020 11 0 to 1 1 2019 Part 2 of 4 Problem 13-2A (Algo) Part 2 8 points 2. Complete the below table to calculate income statement data in common-size percents (Round your percentage answers to 2 decimal places.) eBook References 2021 2019 KORBIN COMPANY Common-Sire Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 2020 Sales % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expenso Net income % % %