[The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 2019 $ $ $ Sales 555,000 340,000 278,000 Cost of goods sold 283,500 212,500 153,900 Gross profit 271,500 127,500 124,100 Selling expenses 102,900 46,920 50,800 Administrative expenses Total expenses Income before taxes Income tax expense Net income $ 77,132 $ 40,290 $ 34,830 50,668 29,920 22,800 153,568 76,840 73,600 117,932 50,660 50,500 40,800 10,370 15,670 Assets KORBIN COMPANY Comparative Balance Sheets December 31- 2021 2020 2019 $ 52,390 $ 37,924 $ 51,748 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 0 100,000 $ 500 96,000 $ 3,950 60,000 152,390 134,424 115,698 $ 22,800 $ 19,960 $ 20,300 72,000 72,000 60,000 9,000 9,000 6,000 48,590 33,464 29,398 $ $ 152,390 134,424 115,698 Required: 1. Complete the below table to calculate each year's current ratio. 2021 2020 2019 Numerator: Current Ratio Denominator: = Current ratio = Current ratio to 1 = to 1 = to 1 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2021 % 2020 2010 % % % Book 3. 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.) Print 0 Merenices Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained eamings Total liabilities and equity KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 % 2020 2019 % 100.00 % 100.00 100.00 % 100.00 % % 100.00 % 100.00 100.00 100.00 100.00%