Required information 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 $ 508,999 $ 389,935 $ 270,600 Cost of goods sold 306,417 246,829 173, 184 Gross profit 202,582 143, 106 9 7, 416 Selling expenses 72,278 53,811 35,719 Administrative expenses 45,810 34,314 22,460 Total expenses 118,088 88,125 58,179 Income before taxes 84,494 54,981 39,237 Income taxes 15,716 11,271 7,965 Net income $ 68,778 $ 43,710 $ 31,272 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets $ 45,966 $ 35,963 $ 48,074 Long-term investments 500 3,360 Plant assets, net 88,046 93,667 56,379 Total assets $ 134,012 $ 130,130 $ 107,813 Liabilities and Equity Current liabilities $ 19,566 $ 19,389 $ 18,867 Common stock 72,000 72,000 54,000 Other paid-in capital 9,000 9,000 6,000 Retained earnings 33,446 29,741 28,946 Total liabilities and equity $ 134,012 $ 130, 130 $ 107,813 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 2015 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 1% 100.00 % 100.00 100.00 100.00 100.00 % %