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, 2017, 2016, and 2015 2017 2016 2015 Sales $ 392,377 $ 300, 593 5 208,600 Cost of goods sold 236,211 189,975 133,584 Gross profit 156, 166 110,618 75,096 Selling expenses 55,718 41,482 27,535 Administrative expenses 35, 314 26,452 17,314 Total expenses 91.032 67,934 44,849 Income before taxes 65, 134 42,684 30, 247 Income taxes 12,115 8,750 6,14e Net income $ 53,019 $ 33,934 $ 24, 107 2015 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 Assets Current assets $ 46,416 $ 36, 315 Long-term investments 40e Plant assets, net 93,362 Total assets $ 133,957 $ 130, e77 Liabilities and Equity Current liabilities $ 19,558 $ 19,381 Common stock 63,000 63,800 Other paid in capital 7,875 7,875 Retained earnings 43,524 39,821 Total liabilities and equity $ 133,957 $ 130,077 $48,545 4,400 54.824 $ 107, 769 $ 18,860 45,000 5, eee 38,909 $ 107, 769 Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Choose Denominator: Choose Numerator: # Current ratio Current ratio to 1 to 1 2017 2016 2015 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, 2017, 2016, and 2016 2017 2016 Sales Cost of goods sold Gross profit 2015 Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income 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 1 2017 2016 2015 Assets Current assets 10000% 100.00 Long-term investments Plant assets, not Total assets Liabilities and Equity Current liabilities 100 00 100.00% N 100 CO 10000 10000 Common stock Other paid in capital Retained earnings Totallaties and equity 10000 100.00 N