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uisplayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 Sales $ 404,791
uisplayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 Sales $ 404,791 $ 310,103 243,684 2019 $ 215,200 Cost of goods sold Gross profit 194, 124 137,728 161,107 115,979 77,472 Selling expenses 57,480 42,794 28,406 Administrative expenses 36,431 27,289 17,862 Total expenses 93,911 70,083 46,268 Income before taxes 67,196 45,896 31,204 Income tax expense 12,498 9,409 6,334 Net income $ 54,698 $ 36,487 $ 24,870 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 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 $ 62,025 $ 41,514 0 1,000 106,185 116,980 $ 179,005 $ 148,699 $ 22,156 $ 26,135 70,000 8,750 74,120 70,000 8,750 47,793 $ 179,005 $ 148,699 2019 $ 55,494 3,910 63,793 $ 123,197 $ 21,559 52,000 5,778 43,860 $ 123,197 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 % 100,00 % 100,00 100.00 100,00 % % % Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings % 100.00 % 100.00 100.00 100.00 100.00 % % Total liabilities and equity
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