KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 52,390 $ 37,924 Long-term investments Plant assets, net $51,748 3,950 60,000 500 100,000 96,000 Total assets $152,390 $134,424 $115,698 Liabilities and Equity $ 22,800 72,000 9,000 48,590 $ 19,960 72,000 9,000 33,464 $ 20,300 60,000 6,000 29,398 Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $152,390 $134,424 $115,698

KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 52,390 $ 37,924 Long-term investments Plant assets, net $51,748 3,950 60,000 500 100,000 96,000 Total assets $152,390 $134,424 $115,698 Liabilities and Equity $ 22,800 72,000 9,000 48,590 $ 19,960 72,000 9,000 33,464 $ 20,300 60,000 6,000 29,398 Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $152,390 $134,424 $115,698

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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