Question
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2019 Sales Cost of goods
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2019 Sales Cost of goods sold Gross profit $ 481,912 290,111 2020 $ 369,184 $ 256,200 233,693 163,968 191,801 135,491 92,232 Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income $ 65,118 $ 41,385 68,432 50,947 33,818 43,372 32,488 21,265 111,804 83,435 55,083 79,997 52,056 37,149 14,879 10,671 7,541 $ 29,608 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 2019 Assets Current assets $ 58,193 Long-term investments Plant assets, net 0 108,072 $ 38,949 700 98,467 Current liabilities Total assets Liabilities and Equity Common stock $ 166,265 $ 138,116 $ 52,065 3,700 58,664 $ 114,429 Other paid-in capital Retained earnings $ 24,275 72,000 9,000 60,990 $ 20,579 72,000 $ 20,025 54,000 Total liabilities and equity $ 166,265 9,000 36,537 $ 138,116 $ 114,429 6,000 34,404 Complete the below table to calculate the balance sheet data in trend percents with 2019 as base year. (Round your percentage
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