problem 17 - 2A ratios, common - size statements, and a trend percents LO P1, P2, P3

CHAPTER 17 GRADEDFX+ O https./ewconnectrnheducation.com/flow/connect.html CHAPTER 17 GRADED PROBLEM 2 Required information Problem 17-2A Ratios, common-size stetements, and trend percents LO P1, P2, P3 /The folowing information applies to the questions displayed below. Selected comparative financial statements of Korbin Company follow Pert 2 of 2 KORBIN COMPANY Comparative Incose Statements For Years Ended December 31, 2017, 2816, and 2815 points 2817 2016 2815 $466,300 $357,224 $247,980 Sales Cost of goods sold Gross profit Selling expenses Adninistrative expenses Total expenses Incone before taxes Incone taxes Net incone 289,713226,837 158,656 185,587 138,387 9,244 66,215 49,297 32,723 41,967 31,436 108,182 88,733 53,299 77,40549,654 35,945 14,39710, 1797 297 63,008 39,475 28,648 KORBIN COMPANY Comparative Balance Sheets Deceaber 31, 2017, 2016, and 2015 2017 2016/2015 Assets Currant assets s se,961 39,871 53,298