Question
Selected comparative financial statements of Korbin Company follow. Required: Complete the below table to calculate each year's current ratio. Assets Current assets Long-term investments Plant
Selected comparative financial statements of Korbin Company follow. Required: Complete the below table to calculate each year's current ratio.
Assets 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 Required: Selected comparative financial statements of Korbin Company follow. KORBIN company Comparative Income Statements For Years Ended December 31 238, saa 270, ese 217 , 152,64a 178,550 126,474 104,e80 n, 619 $ 38,798 $ 27,562 $ 61,234 4e,984 117,290 315 $ 26,a65 22,097 43, 586 178,524 148, 299 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2a21 448, 619 63,7e4 4a,376 74,470 13,851 KORBIN company 202e $ 343,679 47 , 428 244 77,672 48, 8a2 10 , au Comparative Balance Sheets December 31 2e21 $ 178,524 70, e 8,750 73, 7B 2020 148,299 7e, 8, 750 47 452 2019 85,86a 31,482 19, 796 51,278 34, 582 7, oza 2a19 $ 54,786 4,72a 63, 36a $ 122,866 $ 21,5a2 52, aaa 5,778 $ 122,866 1. Complete the below table to calculate each year's current ratio. Numerator: 2021 2020 2019 Denominator: Current Current ratio to to to
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