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
Sales	$	456,143		$	349,443		$	242,500
Cost of goods sold		274,598			219,800			155,200
Gross profit		181,545			129,643			87,300
Selling expenses		64,772			48,223			32,010
Administrative expenses		41,053			30,751			20,128
Total expenses		105,825			78,974			52,138
Income before taxes		75,720			50,669			35,162
Income taxes		14,084			10,387			7,138
Net income	$	61,636		$	40,282		$	28,024

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2017, 2016, and 2015
	2017			2016			2015
Assets
Current assets	$	45,534		$	35,625		$	47,622
Long-term investments		0			700			4,550
Plant assets, net		85,878			91,281			53,550
Total assets	$	131,412		$	127,606		$	105,722
Liabilities and Equity
Current liabilities	$	19,186		$	19,013		$	18,501
Common stock		67,000			67,000			49,000
Other paid-in capital		8,375			8,375			5,444
Retained earnings		36,851			33,218			32,777
Total liabilities and equity	$	131,412		$	127,606		$	105,722

Problem 13-2A Part 1

Required: 1. Complete the below table to calculate each year's current ratio.

Current Ratio
	Choose Numerator:	/	Choose Denominator:	=	Current ratio
		/		=	Current ratio
2017		/		=		to 1
2016		/		=		to 1
2015		/		=		to 1