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Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 $ 543,797 $ 416,593
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 $ 543,797 $ 416,593 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2019 $ 289,100 327,366 264,120 185,024 216,431 152,473 104,076 77,219 57,490 38,161 48,942 36,660 23,995 126,161 94,150 62,156 90,270 58,323 41,920 16,790 11,956 8,510 $ 73,480 $ 46,367 $ 33,410 KORBIN COMPANY Comparative Balance Sheets December 31 Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock 2021 2020 0 $ 37,643 500 94,021 $ 56,242 102,859 $ 159,101 $ 132,164 $ 23,229 71,000 8,875 55,997 $ 19,692 71,000 8,875 32,597 Other paid-in capital Retained earnings Total liabilities and equity $ 159,101 $ 132,164 2019 $ 50,320 3,370 55,808 $ 109,498 $ 19,162 53,000 5,889 31,447 $ 109,498 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as base year. Note: Round your percentage answers to 2 decimal places. KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 2020 2019 Assets Current assets Long-term investments % % 100.00% 100.00 Plant assets, net 100.00 Total assets % % 100.00 % Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity % 100.00% 100.00 100.00 100.00 100.00%
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