mun, unu unu percei PIUP2U 23 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 $555,000 $340,000 $278.000 Cost of goods sold 283.500 212.500 153.900 Gross profit 271.500 127.500 124.100 Selling expenses 102.90046.920 50.800 Administrative expenses 50.668 _29.920 22.800 Total expenses 153,568 76.840 73.600 Income before taxes 117.93250,660 50.500 Income taxes 40.800 10.370 15.670 Net income $ 77,132 S 40.290 S 34.830 KORBIN COMPANY Comnaratiu Ralance Chante Waa D e Type here to search Income taxes Net income 40.800 10.370 15.670 $ 77,132 $ 40,290 $ 34,830 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets $ 52,390 $ 37,924 $ 51,748 Long-term investments 0 500 3,950 Plant assets, net 100.000 96.000 60.000 Total assets $152.390 $134,424 $115.698 Liabilities and Equity Current liabilities S 22.800 S 19.960 S 20.300 Common stock 72.000 72.000 60.000 Other paid-in capital 9.000 9.000 6,000 Retained earnings 48.590 33.464 _29.398 Total liabilities and equity S152.390 S134.424 $115.698 Required Plant assets, net 100.000 96.000 60.000 Total assets $152,390 $134,424 S115,698 Liabilities and Equity Current liabilities $ 22,800 $ 19.960 $ 20,300 Common stock 72,000 72,000 60.000 Other paid-in capital 9.000 9.000 6,000 Retained earnings 48.590 33.464 _29.398 Total liabilities and equity $152,390 $134.424 $115.698 Required 1. Compute each year's current ratio. (Round ratio amounts to one decimal.) 2. Express the income statement data in common-size percents. (Round percents to two decimals.) 3. Express the balance sheet data in trend percents with 2015 as the base year. (Round percents to two decimals.) Check (3) 2017. Total assets trend. 131713 Analysis Component 4. Comment on any significant relations revealed by the ratios and percents computed. O e @ here to search O