Problem 17-2A (Algo) Ratios, common-size statements, and trend percents LO P1,[The following information applies to the questions displayed below.]Selected comparative financial statements of Korbin Company follow.KORBIN COMPANYComparative Income Statements.For Years Ended December 312021Sales:Cost of goods soldGross profitSelling expensesAdministrative expensesTotal expensesIncome before taxesIncome tax expenseNet incomeAssetsCurrent assets2020$436,580 $ 334,456262,821173,75961,99439,292Long-term investmentsPlant assets, netTotal assetsKORBIN COMPANYComparative Balance SheetsDecember 31Liabilities and EquityCurrent liabilitiesCommon stockOther paid-in capitalRetained earningsTotal liabilities and equity212,045122,41146, 155101,28672,47313,480$ 58,993 $ 37,22529,43275,58746,8249,5992021$ 54,7890100, 200$154,989$ 22,62872,0009,00051,3612019$ 232,100148,54483,55630,63719,26449,90133,6556,832$ 26,8232020$36,67090091,178$ 128,7482019$ 49,0194,42053,229$ 106,668$19,18372,0009,00028,565$154,989 $ 128,748 $ 106,668$ 18,66754,0006,00028,001Problem 17-2A (Algo) Part 33. Complete the below table to calculate the balance sheet data in trend percents with 2019 as base year.Note: Round your percentage answers to 2 decimal places. Problem 17-2A (Algo) Ratios, common-size statements, and trend percents LO P1,[The following information applies to the questions displayed below.]Selected comparative financial statements of Korbin Company follow.KORBIN COMPANYComparative Income Statements.For Years Ended December 312021Sales:Cost of goods soldGross profitSelling expensesAdministrative expensesTotal expensesIncome before taxesIncome tax expenseNet incomeAssetsCurrent assets2020$436,580 $ 334,456262,821173,75961,99439,292Long-term investmentsPlant assets, netTotal assetsKORBIN COMPANYComparative Balance SheetsDecember 31Liabilities and EquityCurrent liabilitiesCommon stockOther paid-in capitalRetained earningsTotal liabilities and equity212,045122,41146, 155101,28672,47313,480$ 58,993 $ 37,22529,43275,58746,8249,5992021$ 54,7890100, 200$154,989$ 22,62872,0009,00051,3612019$ 232,100148,54483,55630,63719,26449,90133,6556,832$ 26,8232020$36,67090091,178$ 128,7482019$ 49,0194,42053,229$ 106,668$19,18372,0009,00028,565$154,989 $ 128,748 $ 106,668$ 18,66754,0006,00028,001Problem 17-2A (Algo) Part 33. Complete the below table to calculate the balance sheet data in trend percents with 2019 as base year.Note: Round your percentage answers to 2 decimal places.

A financial statement that depicts an organization's financial situation at a certain period in…

3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as base year. Note: 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 earnings 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 %

3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as base year. Note: 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 earnings 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 %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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