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Required information Skip to question [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative
Required information Skip to question [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 2019 Sales $ 486,803 $ 372,931 $ 258,800 Cost of goods sold 293,055 234,574 165,632 Gross profit 193,748 138,357 93,168 Selling expenses 69,126 51,464 34,162 Administrative expenses 43,812 32,818 21,480 Total expenses 112,938 84,282 55,642 Income before taxes 80,810 54,075 37,526 Income tax expense 15,031 11,085 7,618 Net income $ 65,779 $ 42,990 $ 29,908 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 2019 Assets Current assets $ 62,402 $ 41,766 $ 55,831 Long-term investments 0 1,000 4,850 Plant assets, net 114,124 103,874 60,810 Total assets $ 176,526 $ 146,640 $ 121,491 Liabilities and Equity Current liabilities $ 25,773 $ 21,849 $ 21,261 Common stock 68,000 68,000 50,000 Other paid-in capital 8,500 8,500 5,556 Retained earnings 74,253 48,291 44,674 Total liabilities and equity $ 176,526 $ 146,640 $ 121,491 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.)
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