Question

Saved mework KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $555,000 $340,000 $278,000 Cost of goods sold 283,500 212, 500 153,900 Gross profit 271, 500 127,500 124,100 Selling expenses 102,900 46,920 50,800 Administrative expenses 50, 668 29,920 22,800 Total expenses 153, 568 76,840 73,600 Income before taxes 117,932 5 0, 660 50,500 Income tax expense 40,800 10,370 15,670 Net income $ 77,132 $ 40,290 $ 34,830 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2018 2017 $ 52,390 100,000 $152,390 $ 37,924 500 96,000 $134,424 $ 51,748 3,950 60,000 $115,699 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 $ 22,800 72,000 9,000 49,590 $152,390 $ 19,960 72,000 9,000 33, 464 $134,424 $ 20,300 60,000 6,000 29, 398 $115, 698 < Prev 2 3 4 of 5 Next search de eR.

Answer 1

Answert Page мo 0 2 statement cale clate size income percents. data in common 2019 2018 şalel 2017 100 Y 100% 28 3500 555,000 = 51.087. costs of good qfale 212,500 153,900 340,000 -62.50% 278,000 =55.35% Gross 241500 Parotit 555,000 = 48.914 127,500 124 100 =34.504 340,000 248,000 = 44.69% şelling Expensel 102,900 Sesmo = 18.541 46920 50800 - = 18.27 28,000 340,000 -13.844 Administrath ve Ex penyl 50.668 22800 555000-9127 29920 - 340,000 --8.8% 278,000 -8.2004 Total £креngе 153 868 -24.60 ѕѕѕ ооо ч 1 76840 43600 340000 - 22:64 -26.444 61 248.000 lincome betore 114932 -21.247 50,660 340000 50 500 18.167. Taxed 555060 248000 Income I 40800 10270 15670 Tax Expe - SS5000 4.353.40000 -5.63% -3.05% Boom Net In I 44132 248000 34830 te 40290 =1.881 248.000 555000=13.89%. Some 340000 -"854 =12.52%