KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 Sales $ 512,384 $ 392,528 Cost of goods sold 308, 455 247,293 Gross profit 203,929 145,235 Selling expenses 72,759 54,169 Administrative expenses 46,115 34,542 Total expenses 118,874 38,711 Income before taxes 85,055 56,524 Income tax expense 15,820 11,587 Net Income $ 69,235 $ 44,937 2019 $ 272,400 174,336 98,064 35,957 22,609 58,566 39,498 8,018 $ 31,480 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 2019 Assets Current assets $ 58,396 $ 39,085 $ 52,247 Long-term investments o 300 4,870 Plant assets, bet 110,135 100.113 58,871 Total assets $ 168,531 $ 139,998 $ 115,988 Liabilities and Equity Current liabilities $ 24,606 $ 20,860 $ 20,298 Common stock 65,000 65,000 47,000 Other paid-in capital 8,125 8,125 5,222 Retained earnings 70,800 46,013 43,468 Total liabilities and equity $ 168,531 5 139,998 $ 115,988 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 % 100.00 100.00 100.00 100.00% % Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid in capital Retained earings Total abilities and equity % 100.00 100.00 100.00 100.00 % 100.00