KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 $ 443,916 $ 340,076 2019 $ 236,000 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 267,237 213,568 151,040 176,679 126,508 84,960 63,036 46,930 31,152 39,952 29,927 19,588 102,988 76,857 50,740 73,691 49,651 34,220 13,707 10,179 6,947 $ 59,984 $ 39,472 $ 27,273 KORBIN COMPANY Comparative Balance Sheets December 31 2021 Current liabilities Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Common stock $ 54,530 0 102,843 $ 157,373 $ 130,729 Other paid-in capital Retained earnings $ 22,976 67,000 8,375 59,022 Total liabilities and equity $ 157,373 $ 130,729 2020 $ 36,497 800 93,432 $ 19,479 67,000 8,375 35,875 2019 $ 48,788 4,910 54,611 $ 108,309 $ 18,954 49,000 5,444 34,911 $ 108,309 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) Sales KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2021 43.50 % 2020 2019 % % % % % 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.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 2020 2019 Assets Current assets Long-term investments % % 100.00% 100.00 Plant assets, net 100.00 Total assets % % 100.00% Liabilities and Equity Current liabilities % % 100.00 % Common stock 100.00 Other paid-in capital Retained earnings 100.00 100.00 Total liabilities and equity % % 100.00 %