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[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
[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 Sales Cost of goods sold Gross profit Selling expenses Total expenses Administrative expenses Income before taxes Income tax expense Net income 2021 2020 $415,440 2019 $ 288,300 184,512 103,788 $ 542,292 326,460 262,143 215,832 153,297 77,005 57,331 38,056 48,806 36,559 23,929 125,811 93,890 61,985 90,021 59,407 41,803 16,744 12,179 8,486 $ 73,277 $ 47,228 $ 33,317 KORBIN COMPANY Comparative Balance Sheets December 31 2021 $ 59,997 Assets Current assets. Long-term investments Plant assets, net Total assets Liabilities and Equity Common stock 0 109,725 $ 169,722 $ 24,779 71,000 8,875 65,068 2020 $ 40,156 1,000 99,831 2019 $ 53,679 3,800 59,329 $ 140,987 $ 116,808 $ 21,007 $ 20,441 Current liabilities Other paid-in capital Retained earnings Total liabilities and equity $ 169,722 $ 140,987 71,000 8,875 40,105 53,000 5,889 37,478 $ 116,808 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.) 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 %
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