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 2019 2020 Sales $ 400,841 $ 307,077 $ 213,100 52 Cost of goods sold 241,306 193,766 136,384 Gross profit 159,535 113,311 76,716 Selling expenses 56,919 42,377 28,129 Administrative expenses 36,076 27,023 17,687 Total expenses 92,995 69,400 45,816 Income before taxes. 66,540 43,911 30,900 Income tax expense 12,376 9,002 6,273 Net income $ 54,164 $ 34,909 $ 24,627 KORBIN COMPANY Comparative Balance Sheets December 31 Assets Current assets. Long-term investments. Plant assets, net 2021 0 $ 60,121 113,388 $ 173,509 2020 $ 40,239 1,000 102,894 $ 144,133 $ 21,476 68,000 Current liabilities Total assets Liabilities and Equity Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 173,509 $ 144,133 $ 25,332 68,000 8,500 71,677 8,500 46,157 2019 $ 53,790 4,510 61,114 $ 119,414 $ 20,897 50,000 5,556 42,961 $ 119,414 Required: 1. Complete the below table to calculate each year's current ratio. 2021 2020 2019 Numerator: Current Ratio Denominator: = Current ratio == Current ratio = 0 to 1 = 0 to 1 11 0 to 1 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 % 4. Refer to the results from parts 1, 2, and 3. (a) Did cost of goods sold make up a greater portion of sales for the most recent year compared to the prior year? Yes O No (b) Did income as a percent of sales improve in the most recent year compared to the prior year? Yes O No (c) Did plant assets grow over this period? O Yes No