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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

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[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 $ 496,396 $ 380,280 $ 263,900
Cost of goods sold 298,830 240,337 168,896
Gross profit 197,566 139,943 95,004
Selling expenses 70,488 52,479 34,835
Administrative expenses 44,676 33,465 21,904
Total expenses 115,164 85,944 56,739
Income before taxes 82,402 53,999 38,265
Income tax expense 15,327 11,070 7,768
Net income $ 67,075 $ 42,929 $ 30,497

KORBIN COMPANY
Comparative Balance Sheets
December 31
2021 2020 2019
Assets
Current assets $ 62,462 $ 41,806 $ 55,885
Long-term investments 0 1,000 3,140
Plant assets, net 114,234 103,975 62,583
Total assets $ 176,696 $ 146,781 $ 121,608
Liabilities and Equity
Current liabilities $ 25,798 $ 21,870 $ 21,281
Common stock 70,000 70,000 52,000
Other paid-in capital 8,750 8,750 5,778
Retained earnings 72,148 46,161 42,549
Total liabilities and equity $ 176,696 $ 146,781 $ 121,608

Required: 1. Complete the below table to calculate each year's current ratio.

Current Ratio
Numerator: / Denominator: = Current ratio
/ = Current ratio
2021 / = to 1
2020 / = to 1
2019 / = to 1

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