Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 Sales $ 508,434 $ 389,502 Cost of goods sold 306, 077 246,165 Gross profit 202,357 143, 337 Selling expenses 72,198 53, 751 Administrative expenses 45,759 34, 276 Total expenses 117,957 88,027 Income before taxes 84,400 55,310 Income tax expense 15,698 11,338 Net income $ 68,702 $ 43,972 2019 $ 270,300 172,992 97,308 35,689 22,435 58,115 39,193 7,956 31,237 2020 2019 KORBIN COMPANY Comparative Balance Sheets December 31 2021 Assets Current assets $ 58,812 Long-term investments Plant assets, net 107,558 Total assets $ 166,370 Liabilities and Equity Current liabilities $ 24,290 Common stock 68,000 Other paid-in capital 8,500 Retained earnings 65,580 Total liabilities and equity $ 166,370 $ 39,363 1,100 97,740 $ 138,203 $ 52,619 3,280 58,602 $ 114,521 $ 20,592 68,000 8,500 41,111 $ 138,203 $ 20,038 50,000 5,556 38,907 $ 114,501 Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Denominator: Numerator: Current ratio = = Current ratio to 1 1 2021 2020 # 11 to 1 2019 11 to 1