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its wrong help me fix it 0 7 Part 2013 Required information The following information applies to the questions displayed below.) Selected comparative financial statements
its wrong help me fix it
0 7 Part 2013 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 2019 Sales $ 439,482 $336,618 $ 233,600 Cost of goods sold 264,520 210, 223 149,504 Gross profit 174,882 125,895 84,096 Selling expenses 62,395 46,453 30,835 Administrative expenses 39,546 29,622 19,389 Total expenses 101,941 76,075 50,224 Income before taxes 72,941 49,820 33,872 Income tax expense 13 567 10,213 Net income $ 59,374 $ 39,607 $ 26,996 01:47:05 6,876 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 2019 Assets Current assets $ 56,668 $ 37,928 $ 50,701 Long-term investments 1,080 4,760 Plant assets, net 105, 240 95,568 55,969 Total assets $ 161,908 S 134,496 $ 111, 430 Liabilities and Equity Current liabilities $ 23,639 $ 20,040 $ 19,500 Common stock 69,000 69,000 51,000 Other paid-in capital 8,625 8,625 5,667 Retained earnings 60,644 36,831 35,263 Total liabilities and equity $ 161,908 $ 134,496 $ 111,439 2. Complete the below table to calculate Income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 2021 2020 Sales +1.77 74,84% Cost of goods sold 168.03 21.01 Gross profit (76.26) 53 BO Selling expenses 145.30 170.75 Administrative expenses 121.23 120.70 Total expenses 266.53 291 45 In har 102771 F 2019 100.00% 100.00 0.00 100.00 100.00 200.00 nnnn 150 M Step by Step Solution
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