Do not give answer in image Suzanne Rose Crawford - OutlookHomework iWWRequired information[The following information applies to the questions displayed below.]Selected comparative financial statements of Korbin Company follow.KORBIN COMPANYComparative Income StatementsFor Years Ended fecember 31SalesCost of goods soldGross profitSelling expensesAdministrative expensesTotal expensesIncome before taxesIncome tax expenseNet income2021$ 478,903AssetsCurrent assets.Long-term investmentsPlant assets, netTotal assetsAssignments: 14P-Summer 2023-Financial AdKORBIN COMPANYComparative Balance SheetsDecember 31Liabilities and EquityCurrent liabilitiesCommon stockOther paid-in capitalRetained earningsTotal liabilities and equity2020$366,879231, 134288,300190,603135,74568,00450,62943,10132,285111,10582,91479,49852,83114,78710,830$ 64,711 $ 42,0012021$61,8090118,392$ 180,201Saved2019$ 254,600162,94491,65633,60721,13254,73936,9177,494$ 29,4232020$ 41,369 $ 55,3011,000107,3233,12065,599$ 124,020$ 149,692$ 26,30966,0008,25079,642$ 22,30466,0008,25053,138$ 180,201 $ 149,692< Prev2019$ 21,70448,0005,33348,983$ 124,0202. Complete the below table to calculate income statement data in common-size percents.Note: Round unur nerrentane answers to 2 decimal nlaces1 of 2Next manne Rose Crawford - OutlookmeworkCurrent assetsLong-term investmentsPlant assets, netTotal assetsLiabilities and EquityCurrent liabilities.Common stockOther paid-in capitalRetained earningsSalesCost of goods soldGross profitSelling expenses$ 61,8090118,392$ 180,201$ 26,30966,0008,25079,642Total liabilities and equity $ 180,201 $ 149,692Administrative expensesTotal expensesIncome before taxesIncome tax expenseNet incomeAssignments: 14P-Summer 2023-Financial Accountin%KORBIN COMPANYCommon-Size Comparative Income StatementsFor Years Ended December 31, 2021, 2020, and 201920212020%$ 41,369$ 55,3011,000107,3233,12065,599$ 149,692 $ 124,0202. Complete the below table to calculate income statement data in common-size percents.Note: Round your percentage answers to 2 decimal places.$ 22,30466,0008,25053,138%Saved2019< Prev$ 21,70448,0005,33348,983$ 124,020%1 of 2Next >

The comparative income statements have been prepared by considering the expense figure in comparison…

mework i ! 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 2021 $ 478,903 288,300 190,603 68,004 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 Liabilities and Equity Current liabilities 43,101 111,105 79,498 14,787 $ 64,711 Common stock Other paid-in capital Retained earnings 2020 $366,879 231,134 KORBIN COMPANY Comparative Balance Sheets December 31 135,745 50,629 32,285 82,914 52,831 10,830 $ 42,001 Saved 2019 $ 254,600 162,944 91,656 33,607 21,132 54,739 36,917 7,494 $ 29,423 2021 2020 $ 61,809 $ 41,369 $ 55,301 0 1,000 107,323 3,120 65,599 118,392 $ 180,201 $ 149,692 $ 124,020 2019 $ 21,704 48,000 5,333 48,983 $ 26,309 $ 22,304 66,000 66,000 8,250 79,642 8,250 53,138 Total liabilities and equity $ 180,201 $ 149,692 $ 124,020 2. Complete the below table to calculate income statement data in common-size per Note: Round your nerrentane answers to 2 decimal nlaces