Problem 17-1A Ratios, common-size statements, and trend percents LO P1, P2, P3

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Selected comparative financial statements of Korbin Company follow:

KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2014, 2013, and 2012
			2014				2013				2012
Sales		$	512,196			$	392,384			$	272,300
Cost of goods sold			308,342				247,987				174,272
Gross profit			203,854				144,397				98,028
Selling expenses			72,732				54,149				35,944
Administrative expenses			46,098				34,530				22,601
Total expenses			118,830				88,679				58,545
Income before taxes			85,024				55,718				39,483
Income taxes			15,814				11,422				8,015
Net income		$	69,210			$	44,296			$	31,468

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2014, 2013, and 2012
			2014				2013				2012
Assets
Current assets		$	51,583			$	40,358			$	53,949
Long-term investments			0				900				4,320
Plant assets, net			97,287				103,301				61,498
Total assets		$	148,870			$	144,559			$	119,767
Liabilities and Equity
Current liabilities		$	21,735			$	21,539			$	20,959
Common stock			63,000				63,000				45,000
Other paid-in capital			7,875				7,875				5,000
Retained earnings			56,260				52,145				48,808
Total liabilities and equity		$	148,870			$	144,559			$	119,767

rev: 09_16_2014_QC_53979

Problem 17-1A Part 2

2.	Complete the below table to calculate income statement data in common-size percents. (Round your answers to 2 decimal places.)