Required information Problem 13-2A (Static) 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 2019 $ 278,000 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2020 $ 555,000 283,500 271,500 $ 340,000 212,500 127,500 153,900 124,100 102,900 46,920 50,800 50,668 29,920 22,800 153,568 76,840 73,600 117,932 50,660 50,500 40,800 10,370 15,670 $ 77,132 $ 40,290 $ 34,830 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 Total assets Current liabilities Assets Current assets Long-term investments Plant assets, net Liabilities and Equity Common stock $ 52,390 e 100,000 $ 152,390 $ 134,424 Other paid-in capital Retained earnings $ 22,800 72,000 9,000 48,590 $ 37,924 500 96,000 $ 19,960 72,000 9,000 33,464 2019 $ 51,748 3,950 60,000 $ 115,698 $ 20,300 60,000 6,000 29,398 Total liabilities and equity $ 152,390 $ 134,424 $ 115,698 Problem 13-2A (Static) Part 3 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 2021 2020 2019 Assets Current assets Long-term investments % Plant assets, net Total assets % 100.00% 100.00 100.00 % 100.00% Liabilities and Equity Current liabilities % % 100.00 % Common stock 100.00 Other paid-in capital 100.00 Retained earnings 100.00 Total liabilities and equity % % 100.00%