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Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 2021 2020 2019

Selected comparative financial statements of Korbin Company follow.

KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2021, 2020, and 2019
2021 2020 2019
Sales $ 381,279 $ 292,091 $ 202,700
Cost of goods sold 229,530 184,602 129,728
Gross profit 151,749 107,489 72,972
Selling expenses 54,142 40,309 26,756
Administrative expenses 34,315 25,704 16,824
Total expenses 88,457 66,013 43,580
Income before taxes 63,292 41,476 29,392
Income tax expense 11,772 8,503 5,967
Net income $ 51,520 $ 32,973 $ 23,425

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2021, 2020, and 2019
2021 2020 2019
Assets
Current assets $ 59,200 $ 39,623 $ 52,967
Long-term investments 0 900 4,830
Plant assets, net 113,396 102,852 60,989
Total assets $ 172,596 $ 143,375 $ 118,786
Liabilities and Equity
Current liabilities $ 25,199 $ 21,363 $ 20,788
Common stock 69,000 69,000 51,000
Other paid-in capital 8,625 8,625 5,667
Retained earnings 69,772 44,387 41,331
Total liabilities and equity $ 172,596 $ 143,375 $ 118,786

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Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 2019 100.00 % KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 2021 2020 Sales 100.00 % 100.00 % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Complete the below table to calculate the balance sheet data in trend percents with 2019 as base year. (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 %6 100.00 96 100.00 100.00 100.00% Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 96 96 100.00% 100.00 100.00 100.00 % 96 100.00 %

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