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 2020 2019 Sales $ 502,979 $385,323 $ 267,400 Cont of goods sold 302,293 240,827 171, 136 Gross profit 200,186 144,496 96, 264 Selling expenses 71,423 53, 175 35,297 Administrative expenses 45,268 33,908 22. 194 Total expenses 116,691 87,083 57,491 Income before taxes 83,495 57,413 38,773 Income tax expense 15,530 11,270 2,821 Net Income $ 67,965 $ 45,643 $ 30,902 2021 2019 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 Assets Current assets $ 62,167 $ 41,608 Long-term investments 0 400 plant assets, net 117,247 107.030 Total asets $ 179,414 $ 149,038 Liabilities and Equity Current liabilities $ 26, 194 $ 22,207 Common stock 69,000 69,000 $ 55,621 3,480 64,377 $ 123,478 5.21.609 51,000 $ 62,167 0 117,247 179,414 $ 41,608 400 107,030 $ 149,038 $ 55, 621 3,480 64,377 $ 123,478 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 $ 26,194 69,000 8,625 175,595 $ 179,414 $ 22,207 69,000 8,625 49,206 $ 149,038 $ 21,609 51,000 5,667 45,202 $ 123,478 Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Denominator: Numerator: 1 Current ratio Current ratio / to 1 2021 2020 to 1 2019 to 1