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Selected comparative financial statements of Korbin Company follow.

Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $52,900; total assets, $229,400; common stock, $80,000; and retained earnings, $35,205.) CABOT CORPORATION Balance Sheet December 31 of current year Assets Liabilities and Equity Cash $ 14,000 Accounts payable $ 18,500 Short-term investments 9,400 Accrued wages payable 3,600 Accounts receivable, net 32,200 Income taxes payable 3,300 Merchandise inventory 30,150 Long-term note payable, secured by mortgage on plant assets 69,400 Prepaid expenses 2,500 Common stock 80,000 Plant assets, net 152,300 Retained earnings 65,750 Total assets $ 240,550 Total liabilities and equity $ 240,550 CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales $ 451,600 Cost of goods sold 297,250 Gross profit 154,350 Operating expenses 99,000 Interest expense 4,200 Income before taxes 51,150 Income tax expense 20,605 Net income $ 30,545 Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on equity. (Do not round intermediate calculations.)

KORBIN COMPANY
Comparative Balance Sheets
December 31
	2021	2020	2019
Assets
Current assets	$ 56,853	$ 38,052	$ 50,867
Long-term investments	0	400	4,570
Plant assets, net	107,226	97,847	57,487
Total assets	$ 164,079	$ 136,299	$ 112,924
Liabilities and Equity
Current liabilities	$ 23,956	$ 20,309	$ 19,762
Common stock	71,000	71,000	53,000
Other paid-in capital	8,875	8,875	5,889
Retained earnings	60,248	36,115	34,273
Total liabilities and equity	$ 164,079	$ 136,299	$ 112,924

Selected comparative financial statements of Korbin Company follow.

KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31
	2021	2020	2019
Sales	$ 413,068	$ 316,444	$ 219,600
Cost of goods sold	248,667	198,727	140,544
Gross profit	164,401	117,717	79,056
Selling expenses	58,656	43,669	28,987
Administrative expenses	37,176	27,847	18,227
Total expenses	95,832	71,516	47,214
Income before taxes	68,569	46,201	31,842
Income tax expense	12,754	9,471	6,464
Net income	$ 55,815	$ 36,730	$ 25,378

KORBIN COMPANY
Comparative Balance Sheets
December 31
	2021	2020	2019
Assets
Current assets	$ 56,853	$ 38,052	$ 50,867
Long-term investments	0	400	4,570
Plant assets, net	107,226	97,847	57,487
Total assets	$ 164,079	$ 136,299	$ 112,924
Liabilities and Equity
Current liabilities	$ 23,956	$ 20,309	$ 19,762
Common stock	71,000	71,000	53,000
Other paid-in capital	8,875	8,875	5,889
Retained earnings	60,248	36,115	34,273
Total liabilities and equity	$ 164,079	$ 136,299	$ 112,924

rev: 09_08_2021_QC_CDR-376, 10_13_2021_QC_CDR-376

Problem 13-2A (Algo) Part 2

2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.)

rev: 09_08_2021_QC_CDR-376, 10_13_2021_QC_CDR-376

Problem 13-2A (Algo) Part 2

2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.)

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