Problem 13-2A (Algo) Ratios, common-size statements, and trend percents LO P1, P2, P3 [The following information...

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Problem 13-2A (Algo) 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 COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 Sales $ 413,068 Cost of goods sold 248,667 $ 316,444 199,676 2019 $ 219,600 140,544 Gross profit 164,401 116,768 79,056 Selling expenses 58,656 43,669 28,987 Administrative expenses 37,176 27,847 18,227 Total expenses 95,832 71,516 47,214 Income before taxes 68,569 45,252 31,842 Income tax expense 12,754 9,277 6,464 Net income $55,815 $ 35,975 $ 25,378 Assets KORBIN COMPANY Comparative Balance Sheets Current assets Long-term investments Plant assets, net December 31 2021 2020 $ 58,186 0 111,452 $ 38,944 700 101,273 S 2019 $ 52,059 3,580 61,111 13 Problem 13-2A (Algo) 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 COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 Sales $ 413,068 Cost of goods sold 248,667 $ 316,444 199,676 2019 $ 219,600 140,544 Gross profit 164,401 116,768 79,056 Selling expenses 58,656 43,669 28,987 Administrative expenses 37,176 27,847 18,227 Total expenses 95,832 71,516 47,214 Income before taxes 68,569 45,252 31,842 Income tax expense 12,754 9,277 6,464 Net income $55,815 $ 35,975 $ 25,378 Assets KORBIN COMPANY Comparative Balance Sheets Current assets Long-term investments Plant assets, net December 31 2021 2020 $ 58,186 0 111,452 $ 38,944 700 101,273 S 2019 $ 52,059 3,580 61,111 13