KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2020, 2019, and 2018 2020 $ 474, 200 2819 $363

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Korbin Company Comparative Income Statements For Years Ended December 31 2020 2019 And 2018 2020 474 200 2819 363 1 (383.09 KiB) Viewed 56 times

Korbin Company Comparative Income Statements For Years Ended December 31 2020 2019 And 2018 2020 474 200 2819 363 2 (494.11 KiB) Viewed 56 times

Korbin Company Comparative Income Statements For Years Ended December 31 2020 2019 And 2018 2020 474 200 2819 363 3 (483.79 KiB) Viewed 56 times

Korbin Company Comparative Income Statements For Years Ended December 31 2020 2019 And 2018 2020 474 200 2819 363 4 (408.06 KiB) Viewed 56 times

KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2020, 2019, and 2018 2020 $ 474, 200 2819 $363, 276 228, 864 285,468 188, 732 134, 412 67,336 50, 132 42,678 31, 968 119,014 82, 198 52, 312 19,724 S 41,588 $ 29,134 onial StoltinchLS OFROIDI Company ITV. Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets KORBIN COMPANY Comparative Balance Sheets December 31, 2020, 2019, and 2018 2020 Long-term investments Plant assets, net Total assets 78, 718 14,642 $ 64,976 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity S 61,857 8 118, 485 $ 180,342 26,330 8, 750 75,262 S 189, 342 2818 $ 252, 180 161, 344 98 756 33, 277 20,924 54, 201 36,555 7,421 2019 S 41, 401 800 197,688 $ 149, 809 70,000 8.750 48.737 $ 149,889 2018 $ 55,344 4.546 64, 233 § 21, 720 52,990 5,778 $ 124,

2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) Common-Size Comparative Income Statements For Years Ended December 31, 2020, 2019, and 2018 2019 100.00 % Sales Cost of goods sold Gross profit Selling expenses Administrative expenses KORBIN COMPANY Total expenses Income before taxes Income tax expense Net income 100.00 % 1946 2018 100.00 %

3. Complete the below table to calculate the balance sheet data in trend percents with 2018 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 Percenta December 31, 2020, 2019 and 2018 2020 2019 96 2018 100.00 % 100.00 100.00 100.00 96 100.00 % 100.00 100.00 100.00 100.00 %

4. Refer to the results from parts 1, 2, and 3. (a) Did cost of goods sold make up a greater portion of sales for the most recent year compared to the prior year? O Yes O No (b) Did income as a percent of sales improve in the most recent year compared to the prior year? O Yes O No (c) Did plant assets grow over this period? Yes O NO