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 Sales 2019 $469,310 2018 $359,530 2017 $249,500 Cost of goods sold 282,525 226,144 159,680 Gross profit 186,785 133,386 89,820 Selling expenses 66,642 49,615 32,934 Administrative expenses 42,238 31,639 20,709 Total expenses 108,880 81,254 53,643 Income before taxes 77,905 52,132 36,177 Income tax expense Net income 14,490 10,687 7,344 $ 63,415 $ 41,445 $ 28,833 Assets KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock 2019 2018 2017 $ 57,195 0 $ 38,281 900 $ 51,172 107,870 $165,065 $ 24,099 71,000 97,938 $137,119 $ 20,431 71,000 8,875 4,130 58,301 $113,603 $ 19,881 53,000 5,889 Other paid-in capital 8,875 Retained earnings 61,091 36,813 Total liabilities and equity $165,065 $137,119 34,833 $113,603 Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $165,065 $ 24,099 71,000 $137,119 $113,603 $ 20,431 $ 19,881 71,000 53,000 8,875 8,875 5,889 61,091 36,813 34,833 $165,065 $137,119 $113,603 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 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2019 % 2018 2017 % % % % % Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $47,900; total assets, $209,400; common stock, $87,000; and retained earnings, $31,983.) CABOT CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income tax expense Net income $ 447,600 297,650 149,950 98,500 4,700 46,750 18,833 $ 27,917 Assets Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets CABOT CORPORATION Balance Sheet December 31 $ 14,000 Liabilities and Equity Accounts payable 9,000 Accrued wages payable $ 15,50 4,40 29,600 Income taxes payable 4,50 30,150 Long-term note payable, secured by 64,40 mortgage on plant assets 2,650 150,300 Common stock 87,00 Retained earnings 59,90 $ 235,700 Total liabilities and equity $ 235,70 Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on common stockholders' equity. (Do not round intermediate calculations.)