please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Selected comparative financial statements of Korbin Company follow.KORBIN COMPANYComparative Income StatementsFor Years Ended December 31SalesCost of goods soldGross profitSelling expensesAdministrative expensesTotal expensesIncome before taxesIncome tax expenseNet incomeAssetsCurrent assetsLong-term investmentsPlant assets, netTotal assetsLiabilities and EquityCurrent liabilitiesCommon stockher paid-in capital2021$ 491,505295,886Retained earningsTotal liabilities and equity195,61969,79444, 235114,02981,59015,176$ 66,414KORBIN COMPANYComparative Balance SheetsDecember 312020$ 376,533236,086140,44751,96233,13585,097202155,35011,347$ 44,003$ 62,3310113,993$ 176,324$ 25,74367,0008,37575, 206$ 176,32420202019$ 261,300167,23294,06834,49221,68856,18037,8887,691$ 30,197$ 41,7181,200103,554$ 146,472$ 21,82467,0008,37549,273$ 146,4722019$ 55,7673,58062,005$ 121,352$ 21,23749,0005,44445,671$ 121,352 Problem 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.AssetsCurrent assetsLong-term investmentsPlant assets, netTotal assetsLiabilities and EquityCurrent liabilitiesCommon stockOther paid-in capitalRetained earningsTotal liabilities and equityKORBIN COMPANYBalance Sheet Data in Trend PercentsDecember 31, 2021, 2020 and 20192021111.77 %0.00183.84145.30%%136.73153.84164.67145.30%2020%%102.76 %136.73153.84107.890.00 %2019100.00 %100.00100.00100.00 %100.00 %100.00100.00100.00100.00 %

Trend analysis of balance sheet is also known as horizontal analysis of balance sheet.In such an…

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 111.77 % 0.00 183.84 145.30 % % 136.73 153.84 164.67 145.30 % 2020 % % 102.76 % 136.73 153.84 107.89 0.00 % 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 111.77 % 0.00 183.84 145.30 % % 136.73 153.84 164.67 145.30 % 2020 % % 102.76 % 136.73 153.84 107.89 0.00 % 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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