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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 Year's Ended December 31 2021 2020 2019 Sales $ 533,452 $4.68 $ 283,500 Cost of goods sold 321, 138 259,206 181,584 Gross profit 149,572 Selling expenses 75,750 56, 996 37,435 Administrative expenses 48,231 35,03 23,529 Total expenses 123,761 92,359 58,974 Income before taxe 88,553 57,213 41,122 Income tax expense 15,471 11,720 8,348 Net Income $ 72,022 $ 45,484 $ 32,774 2020 2009 $ 58,659 KORBIN COMPANY Comparative Balance Sheets December 31 2001 Assets Current assets Long-term investments Plant assets, not 185,788 Totalsts $ 153,402 Liabilities and Equity Current liabilities $ 22,858 Common stock Other paid in capital 8. Rutained earnings Total liabilities and equity $ 163,422 $ 37,897 780 97.146 $ 135,743 59.844 $ 20,225 54,000 8. $ 19,61 46.ece 5,111 41.671 $ 112,463 43,513 $ 135,743 Problem 17-2A (Algo) Part 2 2 Complete the below table to calculate income statement cists in common size percents. (Round your percentage answers to 2 decimal places.) 2018 KORB N COMPANY Common-Size Comparative Income Statements For Year Ended December 31, 2021, 2020, and 2019 2021 2020 Sales 100.00 100.00 Cost of goods sold 50.20 Gross profit 39.80 Selling expenses 14.20 13.80 Administrative expenses 9.00 8.80 Total xen 23.20 22.60 Income before tas 16.30 Income tax con 3.09 Not income 13.51 % 100.00 54.00 36.00 13.20 8.30 21.50 14.50 11.56 3. Complete the below table to calculate the balance sheet cats in trend percents with 2019 ss bsse yesr. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data In Trend Parcento December 31, 2021, 2020 and 2019 2021 2020 2010 100.00 100.00 100.00 100.00 100.00 100.00 0.00 Accato Current Long-term investments Plants, not Total Liabilities and Equity Current Common stock Other paid in capital Retained ning Total liabilities and equity 100.00 100.00 100.00 100.00 100.00

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