korbin company comparative income statements sales 563171

Required information Problem 17-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 [The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMP comparative in For Years Ended December 31, 2019, 2018, and 2017 2018 31,435 563,171 Sales $ 299,400 cost of goods sold 39.029 191.616 271,884 142 Gross profit 159,631 107,784 59,538 39,521 Selling expenses 50,685 37,966 24,850 Administrative expenses 10.655 971504 64371 Total expenses 62,127 43,413 Income before taxes 12,736 Income tax expense $ 76,098 S49,391 $ 34.6ed 19.970 KORBIN COMPANY Comparative Balance Sheets ember 31, 2019 2018 and 2017 2019 Assets Long term investment Prex 34 of 8 !! Next > TULO Expenses 45.413 Income before taxes Income tax expense Net income 93,487 17,389 76,098 62,127 1 2,736 49,391 8,813 $ 34,600 $ $ 2018 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 Assets Current assets 63,534 Long-term investments Plant assets, net 114,431 Total assets $ 177,965 Liabilities and Equity Current liabilities 25,983 Common stock 71,000 Other paid-in capital 8,875 Retained earnings 72,107 Total liabilities and equity $ 177,965 $ 42,523 900 184,412 $ 147,835 $ 56,843 4,110 6 1,528 $ 122,481 22,027 71,080 8,875 45,933 $ 147,835 $ 21,434 53,000 5,889 42,158 $ 122,481 Problem 17-2A Part 3 3. Complete the below table to calculate the balance sheet data in trend percents with 2017 answers to 2 decimal places.) Check my work mode: This shows what is correct or incorrect for the work you have completed so fa w Required information Part 3 of 4 KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 2018 2017 3.12 points % 74.81 95.62 0.00 156.77 124,30 33.15 165 91 3 120.70 100.00 100.00 100.00 100.00 % % Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 103.70 13600 X 152.99 115.98 124.30 102.77 136.003 152.99 105.96 120.70 100.00 100.00 100.00 100.00 100.00 % 3 4 of 8 !! Next >