Selected comparative financial statements of Korbin Company follow.

KORBIN COMPANY

Comparative Income Statements

For Years Ended December $31$

$202120202019$

Sales $ $436,580$ $ $334,456$ $ $232,100$

Cost of goods sold $262,821210,373148,544$

Gross profit $173,759124,08383,556$

Selling expenses $61,99446,15530,637$

Administrative expenses $39,29229,43219,264$

Total expenses $101,28675,58749,901$

Income before taxes $72,47348,49633,655$

Income tax expense $13,4809,9426,832$

Net income $ $58,993$ $ $38,554$ $ $26,823$

KORBIN COMPANY

Comparative Balance Sheets

December $31$

$202120202019$

Assets

Current assets $ $58,397$ $ $39,085$ $ $52,248$

Long$-$term investments $06004,540$

Plant assets, net $110,138100,31659,203$

Total assets $ $168,535$ $ $140,001$ $ $115,991$

Liabilities and Equity

Current liabilities $ $24,606$ $ $20,860$ $ $20,298$

Common stock $67,00067,00049,000$

Other paid$-$in capital $8,3758,3755,444$

Retained earnings $68,55443,76641,249$

Total liabilities and equity $ $168,535$ $ $140,001$ $ $115,991$

Required:

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