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 $ 479,843 $ 367,599 $ 255, 100 Cost of goods sold 288,865 231,587 163,264 Gross profit 190,978 136,012 91,836 Selling expenses 68,138 50,729 33,673 Administrative expenses 43,186 32,349 21,173 Total expenses 111,324 83,078 54,846 Income before taxes 79,654 52,934 36,990 Income tax expense 14,816 10,851 7,509 Net income $ 64,838 $ 42,083 $ 29,481 2018 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 Assets Current assets $ 61,667 Long-term investments Plant assets, net 118,119 Total assets $ 179,786 Liabilities and Equity Current liabilities $ 26,249 Common stock 64,000 Other paid-in capital 8,000 Retained earnings 81,537 Total liabilities and equity $ 179,786 $ 41,274 $ 55,173 5004 ,290 107,573 64,271 $ 149,347 $123,734 $ 22,253 64,000 8,000 55,094 $ 149,347 $ 21,653 46,000 5,111 50,970 $123,734 Required: 1. Complete the below table to calculate each year's current ratio. Choose Numerator: I Current Ratio Choose Denominator: = = 2019 2018 Current ratio Current ratio 0 to 1 0 to 1 0 to 1 2017 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 2017 % KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 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 Long-term investments % % 100.00% 100.00 100.00 100.00 % Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 100.00 % 100.00 100.00 100.00 - % % 100.00 %