KORBIN COMPANY
Comparative Income Statements
For Years Ended December
Sales $ $ $
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
Total expenses
Income before taxes
Income tax expense
Net income $ $ $
KORBIN COMPANY
Comparative Balance Sheets
December
Assets
Current assets $ $ $
Longterm investments
Plant assets, net
Total assets $ $ $
Liabilities and Equity
Current liabilities $ $ $
Common stock
Other paidin capital
Retained earnings
Total liabilities and equity $ $ $
Complete the below table to calculate income statement data in commonsize percents.Answer is complete but not entirely correct.
