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 $ 516,146 $ 395,410 $274,400 Cost of goods sold 310,720 247,922 175,616 Gross profit 205, 426 147,488 98,784 Selling expenses 73,293 54,567 36,221 Administrative expenses 46,453 34,796 22,775 Total expenses 119,746 89,363 58,996 Income before taxes 85,680 58,125 39,788 Income tax expense 15,936 11,916 8.077 Net income $ 69,744 $ 46,209 $ 31,711 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current asseta $ 55,211 $ 36,953 $ 49,397 Long-term Investments 0 600 4,050 Plant assets, net 100,972 92,182 54,043 Total assets $ 156,183 $ 129,740 $ 107,490 Liabilities and Equity Current liabilities $ 22,803 $ 19,331 $ 18,811 Common stock 70,000 70,000 52.000 Other paid-in capital 8,750 8.750 5,778 Retained earnings 54,630 31,659 30,901 Total liabilities and equity $156,183 $129,740 $107.490 Required: 1. Complete the below table to calculate each year's current ratio Current Ratio Choose Denominator Choose Numerator Current rate Current ratio 1 B01 2019 2018 2017 1 1 101 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 2016 2017 Sales $ 516,146 $395,410 $274,400 Cont of goods sold 310,220 247,922 175,616 Gros prot 205,426 147,488 98,784 Selling expenses 73,293 54,567 36,221 Asinistrative expenses 46,453 34,796 22,275 total expenses 119,746 89,363 50,996 Income before taxes 85,680 58,125 39,788 Income tax expense 15, 236 11,916 8.077 Net income $ 69,744 $ 46,209 $31.711 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 55,211 $ 36,953 $ 49,397 Long-term investments 600 4,050 Plant assets, net 100,972 92,181 54,043 Total assets $156,183 $ 129,740 $ 107,490 Liabilities and Equity Current liabilities $ 22,803 $ 19,331 $ 18,811 Common stock 70,000 70,000 52.000 Other paid in capital 8,750 8,750 5,778 Retained earnings 54,630 21.659 30.901 Total liabilities and equity $ 156,183 $ 129,740 $ 107,490 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage decimal places.) KORSIN COMPANY Commen Sie Comparative Income Statements For Years Ended December 31, 2012, 2013, and 2017 2019 2010 2017 % Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net Income Pmy Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements Tor Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 516,146 $ 395,410 $ 274,400 cost of goods sold 310,720 247,922 175,616 Gross profit 205,426 147,488 98,784 Selling expenses 73,293 54,567 36,221 Administrative expenses 46, 453 34,796 22,775 Total expenses 119,746 89,363 58,996 Income before taxes 85,680 58,125 39,789 Income tax expense 15,936 11,916 8,077 Net income $ 69,744 $ 46,209 $ 31,711 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 55,211 $ 36,953 $ 49,397 Long-term investments 600 4,050 Plant assets, net 100.972 92.187 54,043 Total assets $ 156,183 $ 129,740 $107.490 Liabilities and Equity Current liabilities $ 22,803 6 19,331 $ 18,811 Common stock 70.000 70,000 52.000 Other paid in capital 8.750 8.750 5,778 Retained earning 54,630 31,659 30,901 Total liabilities and equity $ 156, 183 $ 129,740 $107.490 3. Complete the below table to calculate the balance sheet data in trend percents with 2017 as base year. (Round you answers to 2 decimal places.) KORBAN COMPANY Balance Sheet Data in Trund Parcenta December 2011, 2015 and 2017 2013 2012 Assets Current Long-term investments Plur assets 100.00 100.00 100.00 100.00 Test Liabilities and Equity 100.00 100.00 Comino pada 10000 100.00 10000 Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements Tor Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 516,146 $395,410 $274,400 cost of goods sold 310,720 247,922 175,616 Gross profit 205,426 147, 488 98,784 Selling expenses 73,293 54,567 36,221 Administrative expenses 46,453 34,796 22,775 Total expenses 119,746 89,363 58,996 Income before taxes 85,680 58,125 39,788 Income tax expense 15,936 11,916 1.077 Net Income $ 69,744 $46,209 $ 31,711 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 55,211 $ 36,953 $ 49,397 Long-term investments 0 600 4,050 Plant assets, net 100,972 92,187 54,043 Total assets $ 156,183 $ 129,740 $ 107,490 Liabilities and Equity Current liabilities $ 22,803 $ 19,331 $ 18,811 Common stock 70,000 70.000 52.000 Other paid-in capital 8.750 8.750 5,778 Retained earnings 54,630 31.659 30,901 Total liabilities and equity $ 156,183 $ 129,740 $ 107,490 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? O Yes O No (b) Did income as a percent of sales improve in the most recent year? Yes O No (c) Did plant assets grow over this period? Yes O NO