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Selected comparative financial statements of Korbin Company follow KORRIN COMPANY Comparative Income Statements For Years Ended December 31, 2017 2016 and 2015 2017 2016 2015 Sales $555,000 $340,000 $278,000 Cast of goods sold 283,500 212,500 153,900 Gross profit 271,500 127,500 124, 100 Selling expenses 182,900 46,920 50,800 Administrative expenses 50,668 29,920 22,800 Total expenses 153 568 76,840 73,680 Income before taxes 117,932 50,660 50,500 Income taxes 40, Bee 10.370 15,672 Net Income $. 77,132 $ 40,290 $ 34,830 KORBIN COMPANY Comparative Balance Sheets December 31, 2017 2016, and 2015 2017 2016 2015 Assets Current assets $ 52,390 $ 37,924 S 51, 748 Long-term Investments See 3.950 Plant assets net 180,000 96,eee de.ee Total assets $152,390 3134,424 $115,698 Liabilities and Equity Current liabilities $ 22.Bee 19,968 $ 20,388 72,000 72.000 50.000 Other paldin capital 9,000 3,000 6.ee Retard warnings 48.596 33,484 29 398 Total Elies and equity 52,390 $114.424 S115,699 Required: 1. Complete the below table to calculate each year's current ratio Choose Numerator Current Ratio Choose Denominator = 2012 20:15 2015 Current ratio Current to 10 010 Olt 11 KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales $555,000 $340,000 $278,000 Cost of goods sold 283, se 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, BD Total expenses 153,568 76,84 73.600 Income before taxes 117,932 59,660 50,500 Income taxes 40,00 10,370 15,670 Net Income $ 77,132 $ 40,290 34,830 2015 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 Assets Current assets $ 52,390 $ 37,924 Long-ters Investments 500 Plant assets, net 180, cee 96.eee Total assets $152,390 $134,424 Liabilities and Equity Current liabilities $ 22,800 $ 19,960 Common stock 72.000 72,00 Other paid in capital 9.000 9,000 Retained earnings 48,990 3) 464 Total liabilities and squity $152,390 5134,424 $ 51,748 3.950 60,000 $115,698 $ 20,3ee 60,000 6,000 29,398 $115, 698 2 Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 Sales Cost of goods solo Grosa grofit 2015 Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total Habilities and equity $ 22,800 $ 19,960 3 20,300 72,000 72,000 60,000 9,000 9,800 6,000 48,590 33,464 29,398 $152,399 $134,424 $115,698 3. Complete the below table to calculate the balance sheet data in trend percents with 2015 as the base year . (Rou percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2017 2016 and 2015 2017 2016 2015 9 Assets Current assets Long-term investments Plant assets.net Total assets Liabilities and Equity Current liabilities 100.00% 100.00 100.00 100.00% 100.00% 100.00 Common stock 100.00 Other paid-in capital Retained earnings Total liabilities and equity 100.00 T00:00