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: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales $ 394,822 $ 302,466 $ 209,900 Cost of goods sold 237,683 191,763 134,336 Gross profit 157,139 110,703 7 5,564 Selling expenses 56,065 41,740 27,707 Administrative expenses 35,534 26,617 17, 422 Total expenses 91,599 68,357 45,129 Income before taxes 65,540 42,346 30,435 Income taxes 8,681 6,178 Net income $ 53,350 $ 33,665 $ 24, 257 12, 190 2015 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 Assets Current assets $ 46,731 $ 36,561 Long-term investments 0 900 Plant assets, net 85,465 90,906 Total assets $ 132,196 $ 128,367 Liabilities and Equity Current liabilities $ 19,301 $ 19,127 Common stock 65,000 65,000 Other paid-in capital 8,125 8,125 Retained earnings 39,770 36,115 Total liabilities and equity $ 132,196 $ 128,367 $ 48,874 4,330 53, 148 $ 106,352 $ 18,612 47,000 5,222 35,518 $ 106,352 UL. LLOMALLE yua Problem 17-2A 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 Assets 2015 100.00 % 100.00 100.00 100,00 % Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity % L 100.00 % 100.00 100.00 100.00 100.00%