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
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
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter13: Financial Statement Analysis
Section: Chapter Questions
Problem 13.3DC: Comparing Two Companies in the Same Industry: Chipotle and Panera Bread This case should be...
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![Suzanne Rose Crawford - Outlook
Homework i
WW
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 fecember 31
Sales
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
Total expenses
Income before taxes
Income tax expense
Net income
2021
$ 478,903
Assets
Current assets.
Long-term investments
Plant assets, net
Total assets
Assignments: 14P-Summer 2023-Financial Ad
KORBIN COMPANY
Comparative Balance Sheets
December 31
Liabilities and Equity
Current liabilities
Common stock
Other paid-in capital
Retained earnings
Total liabilities and equity
2020
$366,879
231, 134
288,300
190,603
135,745
68,004
50,629
43,101
32,285
111,105
82,914
79,498
52,831
14,787
10,830
$ 64,711 $ 42,001
2021
$61,809
0
118,392
$ 180,201
Saved
2019
$ 254,600
162,944
91,656
33,607
21,132
54,739
36,917
7,494
$ 29,423
2020
$ 41,369 $ 55,301
1,000
107,323
3,120
65,599
$ 124,020
$ 149,692
$ 26,309
66,000
8,250
79,642
$ 22,304
66,000
8,250
53,138
$ 180,201 $ 149,692
< Prev
2019
$ 21,704
48,000
5,333
48,983
$ 124,020
2. Complete the below table to calculate income statement data in common-size percents.
Note: Round unur nerrentane answers to 2 decimal nlaces
1 of 2
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Transcribed Image Text:Suzanne Rose Crawford - Outlook
Homework i
WW
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 fecember 31
Sales
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
Total expenses
Income before taxes
Income tax expense
Net income
2021
$ 478,903
Assets
Current assets.
Long-term investments
Plant assets, net
Total assets
Assignments: 14P-Summer 2023-Financial Ad
KORBIN COMPANY
Comparative Balance Sheets
December 31
Liabilities and Equity
Current liabilities
Common stock
Other paid-in capital
Retained earnings
Total liabilities and equity
2020
$366,879
231, 134
288,300
190,603
135,745
68,004
50,629
43,101
32,285
111,105
82,914
79,498
52,831
14,787
10,830
$ 64,711 $ 42,001
2021
$61,809
0
118,392
$ 180,201
Saved
2019
$ 254,600
162,944
91,656
33,607
21,132
54,739
36,917
7,494
$ 29,423
2020
$ 41,369 $ 55,301
1,000
107,323
3,120
65,599
$ 124,020
$ 149,692
$ 26,309
66,000
8,250
79,642
$ 22,304
66,000
8,250
53,138
$ 180,201 $ 149,692
< Prev
2019
$ 21,704
48,000
5,333
48,983
$ 124,020
2. Complete the below table to calculate income statement data in common-size percents.
Note: Round unur nerrentane answers to 2 decimal nlaces
1 of 2
Next
Transcribed Image Text:manne Rose Crawford - Outlook
mework
Current assets
Long-term investments
Plant assets, net
Total assets
Liabilities and Equity
Current liabilities.
Common stock
Other paid-in capital
Retained earnings
Sales
Cost of goods sold
Gross profit
Selling expenses
$ 61,809
0
118,392
$ 180,201
$ 26,309
66,000
8,250
79,642
Total liabilities and equity $ 180,201 $ 149,692
Administrative expenses
Total expenses
Income before taxes
Income tax expense
Net income
Assignments: 14P-Summer 2023-Financial Accountin
%
KORBIN COMPANY
Common-Size Comparative Income Statements
For Years Ended December 31, 2021, 2020, and 2019
2021
2020
%
$ 41,369
$ 55,301
1,000
107,323
3,120
65,599
$ 149,692 $ 124,020
2. Complete the below table to calculate income statement data in common-size percents.
Note: Round your percentage answers to 2 decimal places.
$ 22,304
66,000
8,250
53,138
%
Saved
2019
< Prev
$ 21,704
48,000
5,333
48,983
$ 124,020
%
1 of 2
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