Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) % GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 $ % $ Sales $ 745,000 $630,000 Cost of goods sold 560,000 295,400 Gross profit 185.000 334,600 Operating expenses 129,200 252,800 Net income $ 55,800 $ 81,800 Sales Cost of goods sold Accounts receivable 2017 2016 2015 2014 2013 $ 708,171 $ 459,851 $ 366,415 $ 252,700 $ 190,000 342,422 222,378 179,329 122,696 91,200 34,417 26,947 25,063 14,833 12,977 Compute trend percents for the above accounts, using 2013 as the base year. Trend Percent for Net Sales: 1 Choose Denominator: Choose Numerator: Sales % % 2017: 2016: 2015: 2014: % % Choose Numerator: Trend Percent for Cost of Goods Sold: 1 Choose Denominator: 1 11 Cost of goods sold % / 2017: 2016: = .. % Trend Percent for Cost of Goods Sold: 1 Choose Denominator: Choose Numerator: Cost of goods sold % / 2017: 2016: 2015: 2014: % Choose Numerator: Trend Percent for Accounts Receivables: 1 Choose Denominator: 1 = Accounts receivable % 2017: 2016: 2015: 2014: / % Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 36,898 $ 42,284 $ 43, 174 106,941 74,737 56,414 134,457 99,738 63,165 11,649 10,989 4,749 323,176 300,805 268,598 $ 613,121 $ 528,553 $ 436,100 $ 151, 140 $ 90,219 $ 57,565 112,961 117,920 97,342 162,500 162,500 162,500 186,520 157,914 118,693 $ 613,121 $ 528,553 $ 436,100 1. Compute the current ratio for the year ended 2017, 2016, and 2015. 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the current ratio for the years ended December 31, 2017, 2016, and 2015. Current Ratio Choose Denominator: Choose Numerator: = 1 11 2017: 2016: 2015: Current Ratio Current ratio to 1 to 1 to 1 Required 1 Required 2 Compute the acid-test ratio for the years ended December 31, 2017, 2016, and 2015. Acid-Test Ratio Choose Numerator: 1 Choose Denominator: = Acid-Test Ratio Acid-test ratio to 1 2017: + + + + 2016: 2015: to 1 to 1 + = Required 1 Required 2 Required 3 Compute the price-earnings ratio for each year. (Round your answers to 2 decimal places.) Price-Earnings Ratio 1 Choose Denominator: Choose Numerator: = Price-Earnings Ratio Price-earnings ratio 11 / = 2017 2016 / 11