Required information [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 $ 446,926 $ 342,382 $ 237,600 Cost of goods sold 269,049 214,331 152,064 Gross profit 177,877 128,051 85,536 Selling expenses 63,463 47,249 31,363 Administrative expenses 40,223 30,130 19,721 Total expenses 103,686 77,379 51,084 Income before taxes 74,191 50,672 34,452 Income tax expense Net income 13,800 10,388 6,994 $ 60,391 $ 40,284 $ 27,458 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 Assets Current assets $ 61,688 Long-term investments 0 Plant assets, net 112,817 Total assets $ 174,505 103,173 $144,961 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings $ 25,478 66,000 8,250 74,777 Total liabilities and equity $ 174,505 $144,961 $ 41,288 500 $ 21,599 66,000 8,250 49,112 2019 $ 55,192 4,190 60,718 $ 120,100 $ 21,018 48,000 5,333 45,749 $ 120,100 Required: 1. Complete the below table to calculate each year's current ratio. 2021 2020 2019 Numerator: 1 Current Ratio Denominator: Current ratio = Current ratio = to 1 = to 1 = to 1 Prev 8 9 10 11 F Next >