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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 2021 2020 2019 Sales $ 482,853 $ 369,905 $ 256,700 Cost of goods sold 290,678 231,930 164,288 Gross profit 192,175 37,975 92,412 Selling expenses 8,565 51,047 3,884 Administrative expenses 43,457 2,552 21,306 Total expenses 112,022 83,599 65,190 Income before taxes 80,153 ;4,376 37,222 Income tax expense 14,908 11,147 7,556 Net income $ 65,245 $ 43,229 $ 29,666 KORBIN COMPANY Comparative Balance Sheets December 31 2021 1020 2019 Assets Current assets $ 59,564 $ 39,867 $ 53,292 Long-term investments 800 4.680 Plant assets, net 112,33 102,13 60,337 Total assets 171,903 $ 142,799 $ 118,309 Liabilities and Equity Current liabilities $ 25,098 $ 21,277 $ 20,704 Common stock 69,000 69,000 51,000 Other paid-in capital 8,625 8,625 5,667 Retained earnings 59.18 43,897 40,938 Total liabilities and equity $ 171,903 $ 142,799 $ 118,309 ev: 09_08_2021_QC_CDR-376, 10_13_2021_QC_CDR-376 19. Award: 2.00 points 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.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 2020 2019 Assets Current assets % % 100.00 % Long-term investments 100.00 Plant assets, net 100.0 Total assets % % 00.00 % Liabilities and Equity Current liabilit % % 100.00 % Common stock 100.00 Other paid-in capital 100.00 Retained earnings 100.00 Total liabilities and equity % % 100.00 %
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