problem 13-2A

Required Information [The following information applies to the questions displayed below. Selected comparative financlal statements of Korbin Company follow. Required: 1. Complete the below table to calculate each year's current ratio. 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimel pieces.) 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 pleces.) 4. Refer to the resuits from parts 1.2 and 3 (a) Did cost of goods sold make up a greater portion of sales for the most recent year combared to the brior year? Yes No (b) Did income as a percent of sales improve in the most recent year compared to the pnoc year? Yes No (c) Did piant assets grow over this penod? Yes No