Answer the folowing questions with the information above.

Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 516,523 $395,699 $274,600 Cost of goods sold 310,947 249,686 175, 744 Gross profit 205,576 146,013 98,856 Selling expenses 73,346 54,606 36, 247 Administrative expenses 46,487 34,822 22,792 Total expenses 119,833 89,428 59,039 Income before taxes 85,743 56,585 39,817 Income tax expense 15,948 11,600 8,083 Net income $ 69,795 $ 44,985 $ 31,734 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 59,788 $ 40,016 $ 53,492 Long-term investments 0 700 4,940 Plant assets, net 111,034 101, 185 59,133 Total assets $ 170,822 $141,901 $117,565 Liabilities and Equity Current liabilities $ 24,940 $ 21, 143 $ 20,574 Common stock 64,000 64,000 46,000 Other paid-in capital 8,000 8,000 5, 111 Retained earnings 73,882 48,758 45,880 Total liabilities and equity $ 170,822 $141,901 $117,565 Required: 1. Complete the below table to calculate each year's current ratio. Choose Numerator: Current Ratio Choose Denominator: II 1 1 1 II 2019 10 Current ratio Current ratio oto 1 0 to 1 0 to 1 2018 1 11 2017 1 Il 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 2017 KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 Salon % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % % 3. Complete the below table to calculate the balance sheet data in trend percents with 2017 as base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trond Percents December 31, 2019, 2018 and 2017 2019 2018 2017 % % 100,00 % 100.00 100.00 % % 100.00 % Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current Isabilities Common stock Other paid in capital Rotained earnings Total liabilities and equity % % 100.00 % 100.00 100,00 100.00 100.00%