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.) Assets Current assets Long-term investments Dlent 20goto KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 % 2020 % 2019 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. (Round your percentage answers to 2 decimal places.) Assets Current assets Long-term investments Dlent 20goto KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 % 2020 % 2019 100.00 % 100.00 100.00
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 26E: Comprehensive income Anson Industries, Inc., reported the following information on its 20Y1 income...
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![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.)
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 %](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff2bfa172-bfc6-4a2e-9589-90b7bd2d30c6%2Fbe875685-f7fb-4b7e-a8c0-3209e5e3e1fe%2Flzr697n_processed.png&w=3840&q=75)
Transcribed Image Text: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.)
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 %
![Required information
[The following information applies to the questions displayed below.]
Selected comparative financial statements of Korbin Company follow.
KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31
Sales
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
Total expenses
Income before taxes
Income tax expense
Net income
Assets
Current assets
Long-term investments
Plant assets, net
Total assets
2021
2020
$ 465,359 $ 356,503
280,146
224,597
185,213
131,906
66,081
49,197
41,882
31,372
107,963
80,569
77,250
51,337
14,369
10,524
$ 62,881 $ 40,813
KORBIN COMPANY
Comparative Balance Sheets
December 31
Liabilities and Equity
Current liabilities
Common stock
Other paid-in capital
Retained earnings
Total liabilities and equity
2021
$ 62,468
0
117,816
$ 180,284
$ 26,321
64,000
8,000
81,963
$ 180,284
2020
2019
$ 247,400
158,336
89,064
32,657
20,534
53,191
35,873
7,282
$ 28,591
$ 41,810
700
107,251
$ 149,761
$ 22,314
64,000
8,000
55,447
$ 149,761
2019
$ 55,890
3,310
64,877
$ 124,077
$ 21,713
46,000
5,111
51,253
$ 124,077](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff2bfa172-bfc6-4a2e-9589-90b7bd2d30c6%2Fbe875685-f7fb-4b7e-a8c0-3209e5e3e1fe%2F6bbeo9r_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Selected comparative financial statements of Korbin Company follow.
KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31
Sales
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
Total expenses
Income before taxes
Income tax expense
Net income
Assets
Current assets
Long-term investments
Plant assets, net
Total assets
2021
2020
$ 465,359 $ 356,503
280,146
224,597
185,213
131,906
66,081
49,197
41,882
31,372
107,963
80,569
77,250
51,337
14,369
10,524
$ 62,881 $ 40,813
KORBIN COMPANY
Comparative Balance Sheets
December 31
Liabilities and Equity
Current liabilities
Common stock
Other paid-in capital
Retained earnings
Total liabilities and equity
2021
$ 62,468
0
117,816
$ 180,284
$ 26,321
64,000
8,000
81,963
$ 180,284
2020
2019
$ 247,400
158,336
89,064
32,657
20,534
53,191
35,873
7,282
$ 28,591
$ 41,810
700
107,251
$ 149,761
$ 22,314
64,000
8,000
55,447
$ 149,761
2019
$ 55,890
3,310
64,877
$ 124,077
$ 21,713
46,000
5,111
51,253
$ 124,077
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