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Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales $ 499,594 $ 382,730 $265,600 Cost of goods sold 239,972 169,984 Gross profit 198,838 142,758 95,616 Selling expenses 70,942 52,817 35,059 Administrative expenses 44,963 33,689 22,845 Total expenses 115,995 86,497 57,184 Income before taxes 82,933 56,261 38,512 Income taxes 15,426 11,534 7.818 Net income $ 67,507 $ 44,727 $ 30,694 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 Assets Current assets $ 53,132 $ 41,570 Long-term investments @ 700 Plant assets, net 100, 208106,629 Total assets $ 153, 340 $ 148,899 Liabilities and Equity Current liabilities 22,388 $ 22,186 Common stock 72,000 72,000 Other paid-in capital 9.000 9.000 Retained earnings 49,952 45,713 Total liabilities and equity 153,340 5 148,899 $ 55,569 4,280 63,514 $123,363 $ 21,589 54,000 6,000 41,774 S 123,363 Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Choose Denominator: Choose Numerator: 2017 2016 Current ratio Current ratio 0 to 1 0 to 1 0 to 1 2015 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 2015 100.00 KORBIN COMPANY Common Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 Sales 100.00 % 100.00 % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net Income 3. Complete the below table to calculate the balance sheet data in trend percents with 2015 as the base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2017, 2016 and 2015 2017 2016 2015 100.00% 100.00 Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid in capital 100.00 100.00% 19 100.00 100.00 100.00 Retained earnings 100.00 100.00 96 Total abilities and equity 98