Required Information 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 $ 494,327 S 378,695 $ 262,800 Cost of goods sold 297,585 237,820 168,192 Gross profit 196,742 140,875 Selling expenses 70.194 52.26 34,690 Anistratives 44.489 21,812 Total expenses 85.585 56,582 Income before the Income taxes $ 43,956 5 30,370 KORSTN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 $ 52,115 $40.726 Current assets Lone ters investments Pont assets, net Total assets Liabilities and Equity 90,295 $ 159,4135 164.531 145,057 $121,00 Total 1 and Problem 13-2A Part 1 Prey 2 3 4 Next ype here to search 98,295 $ 150,413 104,581 $ 146,057 Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 21,960 64,000 8,000 56,453 $ 150,413 $ 21,762 64,000 8,000 52,295 $ 146,057 5 Problem 13-2A Part 1 Required: 1. Complete the below table to calculate each year's current ratio. Choose Numerator: Current Ratio Choose Denominator: = Current ratio Current ratio 2017 2016 2015 e here to search