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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 2015 KORDIN COMPANY Comparative Income Statements for Years Ended December 31, 2017, 2016, and 2015 2012 2016 Sales $536,085 $ 410,585 51 285.000 Cost of goods sold 322/72) 257 10240 Gross profit 213,362 153, 102 Selling expenses 76,124 56,625 Administrativt expenses 40.248 36,140 222655 Total expenses 1262 92.325 GES Income before taxes 38,990 41.) Income taxes 16.552 12 Net Income 572,438 14,15 32.95 Ch KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets $ 53,407 $ 41,784 $ 55,856 Long-term investments 1,200 4,400 Plant assets, net 100 725 106,684 63,744 Total assets $ 154,132 $ 149,668 124,000 Liabilities and Equity Current liabilities $ 22,503 $ 22,3015 21,700 Common stock 71,000 71.000 53,000 Other paid in capital 8,875 8,675 5,889 Retained earnings 51, 754 47,492 43,411 Total liabilities and equity $ 154,132 $ 149,668 $ 124,000 Problem 17-2A Part 1 Required: 1cample text blocabile Catia Problem 17-2A Part 1 Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Choose Denominator: Choose Numerator: 1 1 1 2017 2016 2015 Current ratio Current ratio 0 to 1 Oto 1 0 to 1 1 = =