Required information 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 Sales $ 406,860 $311,688 2019 $216,300 Cost of goods sold 244,930 195,428 138,432 Gross profit 161,930 116,260 77,868 Selling expenses 57,774 43,013 28,552 Administrative expenses 36,617 27,429 17,953 Total expenses 94,391 70,442 46,505 Income before taxes 67,539 45,818 31,363 Income tax expense 12,562 9,393 6,367 Net income $ 54,977 $ 36,425 $ 24,996 KORBIN COMPANY Comparative Balance Sheets Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock December 31 2021 $ 54,093 $ 153,020 Other paid-in capital Retained earnings $ 22,341 65,000 8,125 57,554 Total liabilities and equity $ 153,020 2020 2019 98,927 $ 36,204 1,200 89,709 $127,113 $ 18,940 65,000 8,125 35,048 $127,113 $ 48,397 3,890 53,026 $ 105,313 $ 18,430 47,000 5,222 34,661 $ 105,313 k nces Total liabilities and equity $ 153,020 $127,113 $ 105,313 Problem 17-2A (Algo) Part 3 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 places.) 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 KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 2020 2019 100.00 % 100.00 100.00 100.00 % % 100.00 % 100 00 100.00 100.00 100.00 %