1 Selected comparative financial statements of Korbin Company follow. Part 1 of 3 - KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 470,062 $360, 106 $360,106 $249,900 Cost of goods sold 282,977 225, 426 159,936 Gross profit 187,085 134,680 89,964 Selling expenses 66, 749 49,695 32,987 Administrative expenses 42,306 31,689 20,742 Total expenses 109,055 81,384 53,729 Income before taxes 78,030 53,296 36, 235 Income tax expense 14,514 10,926 7,356 Net income $ 63,516 $ 42,370 $ 28,879 25 points Skipped cBook Print References KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 58,204 $ 38,956 $ 52,075 Long-term investments 0 700 4,630 Plant assets, net 111,486 101,305 60,081 Total assets $ 169,690 $ 140,961 $ 140,961 $116,786 Liabilities and Equity Current liabilities $ 24,775 $ 21,003 $ 20,438 Common stock 72,000 72,000 54,000 Other paid-in capital 9,000 9,000 6,000 Retained earnings 63,915 38,958 36, 348 Total liabilities and equity $ 169,690 $ 140,961 $ 140,961 $116,786 Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Choose Denominator: Choose Numerator: 1 1 Current ratio Current ratio to 1 2019 2018 2017 / to 1 to 1