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[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, 2019, 2018, and 2017
	2019			2018			2017
Sales	$	489,436		$	374,948		$	260,200
Cost of goods sold		294,640			236,967			166,528
Gross profit		194,796			137,981			93,672
Selling expenses		69,500			51,743			34,346
Administrative expenses		44,049			32,995			21,597
Total expenses		113,549			84,738			55,943
Income before taxes		81,247			53,243			37,729
Income tax expense		15,112			10,915			7,659
Net income	$	66,135		$	42,328		$	30,070

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2019, 2018, and 2017
	2019			2018			2017
Assets
Current assets	$	58,302		$	39,022		$	52,163
Long-term investments		0			600			4,240
Plant assets, net		108,276			98,753			58,241
Total assets	$	166,578		$	138,375		$	114,644
Liabilities and Equity
Current liabilities	$	24,320		$	20,618		$	20,063
Common stock		71,000			71,000			53,000
Other paid-in capital		8,875			8,875			5,889
Retained earnings		62,383			37,882			35,692
Total liabilities and equity	$	166,578		$	138,375		$	114,644

Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Choose Numerator: 1 Choose Denominator: Current ratio 1 Current ratio 2019 1 to 1 2018 / to 1 2017 1 to 1 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales % % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % % % 3. Complete the below table to calculate the balance sheet data in trend percents with 2017 as base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 2018 2017 Assets Current assets % % 100.00 % Long-term investments 100.00 Plant assets, net 100.00 Total assets % % 100.00 % Liabilities and Equity Current liabilities % % 100.00 % Common stock 100.00 Other paid-in capital 100.00 Retained earnings 100.00 Total liabilities and equity % % 100.00 % 4. Refer to the results from parts 1, 2, and 3. (a) Did cost of goods sold make up a greater portion of sales for the most recent year? Yes No (b) Did income as a percent of sales improve in the most recent year? O Yes O No (c) Did plant assets grow over this period? O Yes