RATIO ANALYSIS KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2015, 2014, and 2013 2015 2014 2013 Sales. Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income $555.000 283,500 271.500 102.900 50.668 153.568 117,932 40.800 $77.132 $340.000 212.500 127.500 46.920 29.920 76,840 50.660 10.370 $ 40,290 $278.000 153.900 124.100 50.800 22.800 73.600 50.500 15,670 $ 34,830 KORBIN COMPANY Comparative Balance Sheets December 31, 2015, 2014, and 2013 2015 2014 2013 Assets Current assets Long-term investments Plant assets, net Total assets $ 52,390 0 100.000 $152,390 $ 37.924 *500 96,000 $134.424 $ 51,748 3.950 60.000 $115.698 Liabilities and Equity Current liabilities Common stock -Sharhalder. capital Other paid-in capital Retained earnings O Total liabilities and equity $ 22.800 72.000 9,000 48.590 $152.390 $ 19,960 72.000 9.000 33.464 $134,424 $ 20,300 60,000 6.000 29,398 $115.698 Required: Calculate & comment on the performance of the company based on the following ratios. a. Liquidity b. efficiency c Profitability d. b. Solvency