KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 52,390 $ 37,924 Long-term investments Plant assets, net $51,748 3,950 60,000 500 100,000 96,000 Total assets $152,390 $134,424 $115,698 Liabilities and Equity $ 22,800 72,000 9,000 48,590 $ 19,960 72,000 9,000 33,464 $ 20,300 60,000 6,000 29,398 Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $152,390 $134,424 $115,698
KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 52,390 $ 37,924 Long-term investments Plant assets, net $51,748 3,950 60,000 500 100,000 96,000 Total assets $152,390 $134,424 $115,698 Liabilities and Equity $ 22,800 72,000 9,000 48,590 $ 19,960 72,000 9,000 33,464 $ 20,300 60,000 6,000 29,398 Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $152,390 $134,424 $115,698
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F17e8d1d7-0817-4afa-b1d8-2cbedcad66ee%2Fda9a0252-fed9-4188-ba74-ad3dc7b2b330%2Fn4j7o8s_reoriented.jpeg&w=3840&q=75)
![KORBIN COMPANY
Comparative Balance Sheets
December 31, 2019, 2018, and 2017
2019
2018
2017
Assets
Current assets
$ 52,390
$ 37,924
Long-term investments
Plant assets, net
$51,748
3,950
60,000
500
100,000
96,000
Total assets
$152,390
$134,424
$115,698
Liabilities and Equity
$ 22,800
72,000
9,000
48,590
$ 19,960
72,000
9,000
33,464
$ 20,300
60,000
6,000
29,398
Current liabilities
Common stock
Other paid-in capital
Retained earnings
Total liabilities and equity
$152,390
$134,424
$115,698](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F17e8d1d7-0817-4afa-b1d8-2cbedcad66ee%2Fda9a0252-fed9-4188-ba74-ad3dc7b2b330%2Foj33958_reoriented.jpeg&w=3840&q=75)
Transcribed Image Text:KORBIN COMPANY
Comparative Balance Sheets
December 31, 2019, 2018, and 2017
2019
2018
2017
Assets
Current assets
$ 52,390
$ 37,924
Long-term investments
Plant assets, net
$51,748
3,950
60,000
500
100,000
96,000
Total assets
$152,390
$134,424
$115,698
Liabilities and Equity
$ 22,800
72,000
9,000
48,590
$ 19,960
72,000
9,000
33,464
$ 20,300
60,000
6,000
29,398
Current liabilities
Common stock
Other paid-in capital
Retained earnings
Total liabilities and equity
$152,390
$134,424
$115,698
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