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Problem 17-2A (Algo) Ratios, common-size statements, and trend percents LO P1, P2, P3 [The following information applies to the questions displayed below.] Selected comparative

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Problem 17-2A (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 $ 511,444 $ 391,808 2019 Sales $ 271,900 Cost of goods sold 307,889 245,272 174,016 Gross profit 203,555 146,536 97,884 Selling expenses 72,625 54,070 35,891 Administrative expenses 46,030 34,479 22,568 Total expenses 118,655 88,549 58,459 Income before taxes 84,900 57,987 39,425 Income tax expense 15,791 11,887 8,003 Net income $ 69,109 $ 46,100 $31,422 KORBIN COMPANY Comparative Balance Sheets: December 31 2021 2020 2019 Long-term investments Assets Current assets Plant assets, net Total assets Liabilities and Equity Current Liabilities Common stock $ 56,256 0 106,098 $ 37,652 700 96,515 $ 50,332 3,530. 57,875 $ 162,354 $ 134,867 $ 111,737 $ 23,704 $ 20,095 $ 19,554 Other paid-in capital Retained earnings 65,000 8,125 65,525 65,000 8,125 47,000 5,222 41,647 39,961 Total liabilities and equity $ 162,354 $ 134,867 $ 111,737 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as base year. Note: Round your percentage answers to 2 decimal places. KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 Assets 2021 2020 2019 Current assets % 74.81 % 100,00 % Long-term investments 0.00 100.00 Plant assets, net 100.00 Total assets % 120.70 % 100.00 % Liabilities and Equity Current liabilities % 102.77 % 100.00 % Common stock 100.00 Other paid-in capital 100.00 Retained earnings 100.00 Total liabilities and equity % % 100.00 %

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