multiple step question
Selectea comparduve inancial Statements OI KOIDIT Company IONOW. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 420,592 $ 322,208 $ 223,689 Cost of goods sold 253, 196 203,313 143, 104 Gross profit 167, 396 118,895 80,496 Selling expenses 59,724 44,465 29,515 Administrative expenses 37,853 28,354 18,559 Total expenses 97,577 72,819 48,074 Income before taxes 69,819 46,076 32,422 Income tax expense 12,986 9,446 6,582 Net income $ 56,833 $36,630 $ 25,840 2018 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 Assets Current assets $ $4,745 Long-term investments Plant assets, net 101,669 Total assets $ 156,414 Liabilities and Equity Current liabilities $ 22,836 Common stock 71,000 Other paid in capital 3,875 Retained earnings $3703 Total liabilities and equity $ 156,414 $36,641 1,200 92.091 $ 129,932 $ 48,980 4,950 54,619 $ 107,649 $ 19,360 71.000 8,875 30,692 $ 129,932 $ 18,339 53,000 5,889 29.921 $ 107,649 Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Choose Denominator: Choose Numerator: 1 Current ratio Current ratio / = 2019 1 to 1 2018 2017 || || || to 1 to 1 2. Complete the below table to calculate income statement data in common-size percents (Round your percentage answers to 2 decimal places.) 2017 KORBIN COMPANY Common Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expert Net Income 3. Complete the below table to calculate the balance sheet data in trend percents with 2017 as base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 2018 2017 100,00 % 10000 10000 10000% % Assets Current assets Long-term Investments Plant assets, not Total assets Liabilities and Equity Current labi Common stock Other paid in capital Retained in Total liabilities and equity 100.00 100.00 100.00 10000 100.00