Problem 13-2A 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 $ 480,407 $ 368,031 $ 255,400 Cost of goods sold 289,205 232,596 163,456 Gross profit 191,202 135,435 91,944 Selling expenses 68,218 50,788 33,713 Administrative expenses 43,237 32,387 21,198 Total expenses 111,455 83,175 54,911 Income before taxes 79,747 52,260 37,033 Income taxes 14,833 10,713 7,518 Net income $ 64,914 $ 41,547 $ 29,515 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets $ 50,804 $ 39,748 $ 53,134 Long-term investments 0 700 3,180 Plant assets, net 92,913 99,107 59,307 Total assets $ 143,717 $ 139,555 $ 115,621 Liabilities and Equity Current liabilities $ 20,983 $ 20,794 $ 20,234 Common stock 65,000 65,000 47,000 Other paid-in capital 8,125 8,125 5,222 Retained earnings 49,609 45,636 43,165 Total liabilities and equity $ 143,717 $ 139,555 $ 115,621 Problem 13-2A 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.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2017, 2016 and 2015 2017 2016 2015 Assets Current assets % % 100.00 % Long-term investments 100.00 Plant assets, net 100.00 Total assets % % 100.00 % Liabilities and Equity Current liabilities % % 100.00 % Common stock 100.00 Other paid-in capital 100.00 Retained earnings 100.00 Total liabilities and equity % % 100.00 %