Selected comparative financial statements of Korbin Company follow.

KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31
	2021	2020	2019
Sales	$ 426,799	$ 326,963	$ 226,900
Cost of goods sold	256,933	204,352	145,216
Gross profit	169,866	122,611	81,684
Selling expenses	60,605	45,121	29,951
Administrative expenses	38,412	28,773	18,833
Total expenses	99,017	73,894	48,784
Income before taxes	70,849	48,717	32,900
Income tax expense	13,178	9,987	6,679
Net income	$ 57,671	$ 38,730	$ 26,221

KORBIN COMPANY
Comparative Balance Sheets
December 31
	2021	2020	2019
Assets
Current assets	$ 60,849	$ 40,727	$ 54,442
Long-term investments	0	700	3,020
Plant assets, net	111,285	101,564	61,006
Total assets	$ 172,134	$ 142,991	$ 118,468
Liabilities and Equity
Current liabilities	$ 25,132	$ 21,306	$ 20,732
Common stock	63,000	63,000	45,000
Other paid-in capital	7,875	7,875	5,000
Retained earnings	76,127	50,810	47,736
Total liabilities and equity	$ 172,134	$ 142,991	$ 118,468

rev: 09_08_2021_QC_CDR-376, 10_13_2021_QC_CDR-376

Problem 17-2A (Algo) Part 1

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

Current Ratio Numerator: 1 Denominator: = = Current ratio 1 = Current ratio 2021 1 = 0 to 1 2020 1 = 0 to 1 2019 / = 0 to 1