! Required information Problem 17-1A 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, 2014, 2013, and 2012 2014 2013 2012 Sales $485,862 $372,210 $258,300 Cost of goods sold 292,489 235,981 165,312 Gross profit Selling expenses Administrative expenses 193,373 68,992 43,728 136,229 51,365 32,754 92,988 34,096 21,439 112,720 Total expenses 84,119 55,535 Income before taxes Income taxes 80,653 15,001 52,110 10,683 37,453 7,603 Net income $ 65,652 $ 41,427 $ 29,850 KORBIN COMPANY Comparative Balance Sheets December 31, 2014, 2013, and 2012 2014 2013 Assets Current assets $ 51,343 $ 40,170 Long-term investments 0 1,000 Plant assets, net 93,900 99,867 2012 $53,698 3,980 59,171 Total assets $145,243 $141,037 $116,849 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings $ 21,205 69,000 8,625 46,413 $ 21,015 69,000 8,625 42,397 $ 20,449 51,000 5,667 39,733 Total liabilities and equity $145,243 $ 141,037 $116,849 Problem 17-1A Part 3 3. Complete the below table to calculate the balance sheet data in trend percents with 2012 as the base year. (Round your answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2014, 2013, 2012 2014 2013 2012 Assets 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 100.00% 100.00% 100.00% 100.00% 100.00%