Problem 13-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 The folcving 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 $461,221 $353,333 $245,200 277,655 183,566 65,493 41,51e 1e7,003 76,563 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses 222,246 131,087 48,763 31,093 156,928 88, 272 32,366 20,352 52,718 35,554 79,853 Income before taxes 51,234 10,503 7,217 Income taxes 14,241 $ 28,337 62,322 $ 40,731 Net income KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2017, 2016 and 2015 KORBIN COMPANY Comparative Balance Sheets December 31, 2317, 2316, and 2015 2017 2016 2015 Assets 2017 2016 2015 Current assets 100.00 % Assets Long-term investments Current assets 51,709 40,449 $54,071 3,370 63,822 100.00 Long-term investments Plant assets, net 600 Plant assets, net 100.00 99,030 105,315 Total assets 100.00 % $159,730 $146,364 $121,263 Total assets Liabilities and Equity Liabilities and Equity Current liabilities Common stock Current iabilities 100.00 % 22,007 21,808 $ 21,221 53,000 5,889 41,153 71,000 71,003 8,875 48,84B Common stock 100.00 Other paid-in capital Retained earnings 8,875 Other paid-in capital 100.00 44,681 Retained earnings 100.00 $159,730 $146,364 $121,263 Total liabilities and equity Total liabilities and equity 100.00 %