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Accounting
Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes i Income tax expense Net income Comparative Income Statements For Years Ended December 31 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 ssets Current assets ong-term investments "lant assets, net otal assets iabilities and Equity Current liabaties Common stock 2021 $ 420,027 252,856 167,171 59,644 37,802 97,446 69,725 12,969 $ 56,756 KORBIN COMPANY Comparative Balance Sheets December 31 2020 $ 321,775 202,718 119,057 44,405 2021 28,316 72,721 46,336 9,499 $ 36,837 $ 55,286 0 102,674 $ 157,960 2020 111.77 % 0.00 145.30% 2019 $ 223,300 142,912 121.22 % $ 37,003 700 93,514 $ 131,217 KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 48,010 32,378 6,573 $ 25,805 $ 19,551 67,000 8,375 36,291 $ 23,062 67,000 8,375 59,523 $ 157,960 $ 131,217 $ 108,713 Complete the below table to calculate the balance sheet data in trend percents with 2 swers to 2 decimal places.) 80,388 29,476 18,534 2019 2020 $ 49,464 4,110 55,139 $ 108,713 $ 19,025 49,000 5,444 35,244 74.81 % 120.70 % % 2019 100 100.0 100.0 100.0 100.0 100.C

Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes i Income tax expense Net income Comparative Income Statements For Years Ended December 31 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 ssets Current assets ong-term investments "lant assets, net otal assets iabilities and Equity Current liabaties Common stock 2021 $ 420,027 252,856 167,171 59,644 37,802 97,446 69,725 12,969 $ 56,756 KORBIN COMPANY Comparative Balance Sheets December 31 2020 $ 321,775 202,718 119,057 44,405 2021 28,316 72,721 46,336 9,499 $ 36,837 $ 55,286 0 102,674 $ 157,960 2020 111.77 % 0.00 145.30% 2019 $ 223,300 142,912 121.22 % $ 37,003 700 93,514 $ 131,217 KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 48,010 32,378 6,573 $ 25,805 $ 19,551 67,000 8,375 36,291 $ 23,062 67,000 8,375 59,523 $ 157,960 $ 131,217 $ 108,713 Complete the below table to calculate the balance sheet data in trend percents with 2 swers to 2 decimal places.) 80,388 29,476 18,534 2019 2020 $ 49,464 4,110 55,139 $ 108,713 $ 19,025 49,000 5,444 35,244 74.81 % 120.70 % % 2019 100 100.0 100.0 100.0 100.0 100.C

FINANCIAL ACCOUNTING
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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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 Sin Comparative Income Statements For Years Ended December 31 2021 $ 420,027 252,856 167,171 59,644 37,802 97,446 69,725 12,969 $ 56,756 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity Assets Current assets Long-term investments Plant assets, net. Total assets Liabilities and Equity Current liabaties Common stock Other paid-in capital Retained earnings Total liabilities and equity 2020 $ 321,775 202,718 KORBIN COMPANY Comparative Balance Sheets December 31 2021 119,057 44,405 28,316 72,721 46,336 9,499 $ 36,837 $ 55,286 0 102,674 $ 157,960 2020 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as answers to 2 decimal places.) 111.77 % 0.00 $ 37,003 700 93,514 $ 131,217 KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 2019 $ 223,300 142,912 145.30% 121.22 % $ 19,551 $ 23,062 67,000 8,375 67,000 8,375 36,291 5,444 59,523 35,244 $ 157,960 $ 131,217 $ 108,713 80,388 29,476 18,534 48,010 32,378 6,573 $ 25,805 2819 $ 49,464 4,110 55,139 $ 108,713 $ 19,025 49,000 2020 74.81 % 120.70 % % 2019 100.00 % 100.00 100.00 100.00 % 100.00 100.00 100.00 100.00 100.00 %
Transcribed Image Text: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 Sin Comparative Income Statements For Years Ended December 31 2021 $ 420,027 252,856 167,171 59,644 37,802 97,446 69,725 12,969 $ 56,756 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity Assets Current assets Long-term investments Plant assets, net. Total assets Liabilities and Equity Current liabaties Common stock Other paid-in capital Retained earnings Total liabilities and equity 2020 $ 321,775 202,718 KORBIN COMPANY Comparative Balance Sheets December 31 2021 119,057 44,405 28,316 72,721 46,336 9,499 $ 36,837 $ 55,286 0 102,674 $ 157,960 2020 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as answers to 2 decimal places.) 111.77 % 0.00 $ 37,003 700 93,514 $ 131,217 KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 2019 $ 223,300 142,912 145.30% 121.22 % $ 19,551 $ 23,062 67,000 8,375 67,000 8,375 36,291 5,444 59,523 35,244 $ 157,960 $ 131,217 $ 108,713 80,388 29,476 18,534 48,010 32,378 6,573 $ 25,805 2819 $ 49,464 4,110 55,139 $ 108,713 $ 19,025 49,000 2020 74.81 % 120.70 % % 2019 100.00 % 100.00 100.00 100.00 % 100.00 100.00 100.00 100.00 100.00 %
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