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Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 3 1 2 0 2 1 2 0
Selected comparative financial statements of Korbin Company follow.
KORBIN COMPANY
Comparative Income Statements
For Years Ended December
Sales $ $ $
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
Total expenses
Income before taxes
Income tax expense
Net income $ $ $
KORBIN COMPANY
Comparative Balance Sheets
December
Assets
Current assets $ $ $
Longterm investments
Plant assets, net
Total assets $ $ $
Liabilities and Equity
Current liabilities $ $ $
Common stock
Other paidin capital
Retained earnings
Total liabilities and equity $ $ $ Complete the below table to calculate each year's current ratio. Complete the below table to calculate income statement data in commonsize percents.Note: Round your percentage answers to decimal places. Complete the below table to calculate the balance sheet data in trend percents with as base year.Note: Round your percentage answers to decimal places. Selected comparative financial statements of Korbin Company follow.
tableKORBIN COMPANYtableComparativeFor Yeame StatementsInded December SalesCost of goods sold,$$$Gross profit,Selling expenses,Administrative expenses,Total expenses,Income before taxes,Income tax expense,Net income,$$$
tableKORBIN COMPANY,tableComparative Balance SheetsDecember AssetsCurrent assets,$$$Longterm investments,Plant assets, net,Total assets,$$$Liabilities and Equity,$$$Current liabilities,Common stock,Other paidin capital,Retained earnings,$$$
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