Please assist me in the following question, 4 part question. Thank you!
Required information Problem 17-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 The following information applies to the questions displayed below.] 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 $ 456, 519 $ 349, 731 $ 242 , 700 Cost of goods sold 274, 824 220, 680 155 , 328 Gross profit 181, 695 129, 051 87, 372 Selling expenses 64, 826 48, 263 32, 036 Administrative expenses 41, 087 30, 776 20, 144 Total expenses 105, 913 79,039 52 , 180 Income before taxes 75, 782 50 , 012 35 , 192 Income taxes 14 , 095 10, 252 7, 144 Net income $ 61, 687 $ 39,760 $ 28, 048 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets $ 44, 959 35 , 175 $ 47 , 021 Long-term investments 1, 000 4, 320 Plant assets, net 86, 117 91, 104 54, 110 Total assets $ 131, 076 $ 127, 279 $ 105, 451 Liabilities and Equity Current liabilities $ 19, 137 $ 18,965 $ 18, 454 Common stock 72 , 000 72, 000 54 , 000 Other paid-in capital 9 , 000 9 , 000 6, 000 Retained earnings 30,939 27, 314 26,997 Total liabilities and equity $ 131, 076 $ 127, 279 $ 105, 451Problem 17-2A Part 1 Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Choose Numerator: 1 Choose Denominator: E Current ratio Current ratio 2017 = to 1 2016 to 1 2015 to 1Problem 17-2A Part 2 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales % % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income % % %Problem 17-2A Part 3 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.) r g Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity _I_ _I_ _I_ _I_ _I_ _I_I_I _I_ _I_ _I_ _I_