Required information Problem 17-2A (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. of 4 KORDIN COMPANY Comparative Income statements Por Years Ended December 31, 2021 2020, and 2019 2021 2020 2019 Sales S 555,000 $ 340,000 S 278,000 Cost of goods sold 283,500 212.500 153,200 Gross profit 271,500 127.500 124.400 Selling expenses 102.900 46,920 50.800 Administrative expenses 50,668 29,920 22,800 Total expenses 153,568 76,840 73.600 Income before taxe 117,932 50,660 50,500 Income tax expense 40,800 10,370 15.670 Net income $ 97,132 $ 40,290 $ 34,830 OK at ces 2019 KORBIN COMPANY Comparative Balance Sheets December 31, 2021 2020 and 2019 2021 2020 Assets Current seto $ 52.390 $ 37.924 Long-term investments D 500 Plant assets, net 100,000 96,000 Total assets $ 152,390 S 134,424 Liabilities and Equity Current liabilities $ 22, 800 $ 19,960 Common stock 72.000 72,000 Other paid-in capital 9.000 9,000 Retained warning 48,590 3,464 Total abilities and equicy 3 152,390 $ 134.424 $ 51.748 3,950 60,000 5 115, 698 $ 20,300 60,000 6.000 29.398 $ 115,698 points Problem 17-2A (Static) Part 1 Book Required: 1. Complete the below table to calculate each year's current ratio. Print Current Ratio Denominator: Current liabilities Numerator: Accounts receivable 2021 2020 2019 Current ratio Current ratio O to 1 References 1 Oto 1 Oto 1