Required Information [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 $ 383,724 $ 293,964 $ 284, eee Cost of goods sold 231,892 185,491 139,560 Gross profit 152,722 188,473 73,44 Selling expenses 54,489 48,567 26,928 Administrative expenses 34,535 25,869 16,932 Total expenses 89,824 66,436 43,850 before taxes 63,698 42,037 29,582 Income tax expense 11,848 8,618 6,885 Net income $ 51,850 $ 33,419 $ 23,575 2018 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 Assets Current assets $ 62,124 Long-term investments Plant assets, net 117,165 Total assets $ 179,289 Liabilities and Equity Current liabilities $ 26,176 Common stock 68. Be Other paid-in capital 8, See Retained earnings 76,613 Total liabilities and equity $ 179, 289 $ 41,579 $ 55,582 780 4,760 186,655 63,ese $ 148,934 S 123,392 $ 22,191 $ 21,594 68,888 se, eee 8. See 5,556 Se, 243 46, 242 $ 148,934 $ 123,392 Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Choose Denominator: Choose Numerator: 1 Current ratio - Current ratio 1 to 1 2019 2018 2017 1 to 1 to 1