KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2014, 2013, and 2012
			2014				2013				2012
Sales		$	548,500			$	420,196			$	291,600
Cost of goods sold			330,197				265,984				186,624
Gross profit			218,303				154,212				104,976
Selling expenses			77,887				57,987				38,491
Administrative expenses			49,365				36,977				24,203
Total expenses			127,252				94,964				62,694
Income before taxes			91,051				59,248				42,282
Income taxes			16,935				12,146				8,583
Net income		$	74,116			$	47,102			$	33,699

KORBIN COMPANY

Comparative Balance Sheets

December 31, 2014, 2013, and 2012

Assets 2014 2013 2012

Current assets $48,609 $38,030 $50,838

Long-term investments 0 700 4,010

Plant assets, net 90,273 96,129 56,883

Total assets $138,882 $134,859 $111,731

Liabilities and Equity

Current liabilities $20,277 $20,094 $19,553

Common stock 64,000 64,000 46,000

Other paid-in capital 8,000 8,000 5,111

Retained earnings 46,605 42,765 41,067

Total liabilities and equity $138,882 $134,859 $111,731

Problem 17-1A Part 3

3.

Complete the below table to calculate the balance sheet data in trend percents with 2012 as the base year. (Round your answers to 2 decimal places.)

Korbin company Balance sheet data in trent percents December 31, 2014, 2013, 2012 Assets 2014 2013 2012 Current assets _______ ________ 100.00% long term investments _______ ________ 100.00% Plant assets, net _______ ________ 100.00% total assets _______ ________ 100.00% Liabilities and equity current liabilities _______ ________ 100.00% common stock _______ ________ 100.00% other paid in capital _______ ________ 100.00% retained earnings _______ ________ 100.00% total liabilities and equity 100.00%