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Complete the below table to calculate each year's current ratio. Current Ratio Choose Numerator: / Choose Denominator: = Current ratio / = Current ratio 2015

Complete the below table to calculate each year's current ratio.
Current Ratio
Choose Numerator: / Choose Denominator: = Current ratio
/ = Current ratio
2015 / = to 1
2014 / = to 1
2013 / = to 1image text in transcribed
Selected co mporative financial statements of Korbin Co mpany follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2015, 2014, and 2013 2015 $ 506,741 305,058 2014 2013 $388,205 243,793 Sales $ 269,400 172,416 Cost of goods sold Gross profit Selling expenses Administrative expenses 201,683 71,957 45,607 144,412 53,572 34,162 96,984 35,561 22,360 Total expenses 117,564 87,734 57,921 Income before taxes Income taxes 84,119 15,646 56,678 11,619 39,063 7,930 Net income $ 68,473 $ 45.059 $ 31,133 KORBIN COMPANY Comparative Balonce Sheets December 31, 2015, 2014, and 2013 2015 2014 2013 Assets Current assets Long-term investments Plant assets, net $ 48,219 37,726 500 96,904 $ 50,430 3,260 90,941 58,265 Total assets $ 139,160 $ 135,130 $111,955 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings 70,000 8,750 40,093 $ 20,317 20,134 $19,592 70,000 8.750 36,246 52,000 5,778 34,585 Total liabilities and equity $ 139,160 $ 135,130 $111,955

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