Selected comparative financial statements of Korbin Company follow:
13: Homework 6 Seved Required information 12 Problem 13-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 (The following information applies tothe 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 40:53 2017 2016 2015 $268, 200 Sales $504, 484 303,699 $386, 476 243, 480 ok Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses 171,648 142, 996 53, 334 96, 552 35, 402 22, 261 200, 785 71,637 nt 45, 404 117,041 83,744 15,576 $ 68, 168 34, 010 87, 344 57,663 38, 889 7,894 Income before taxes 55, 652 11, 409 $ 44, 243 Income taxes 30, 995 Net income 3. KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 Part 1 of 2 2015 2017 2016 Assets $ 52, 993 4, 940 57, 383 $ 50, 670 $ 39,643 900 Current assets Long-term investnents Plant assets, net 16.66 98, 643 92, 668 points $115, 316 $139, 186 $143, 338 Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings $ 20, 180 52, 000 $ 20,927 70, 000 8. 750 $ 20, 739 70, 000 8, 750 39, 697 5,778 37, 358 $115, 316 eBook 43, 661 $139, 186 $143, 338 Total liabilities and equity Print nsble 492A Dart 2 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) Part 1 of 2 KORBIN COMPANY 16.66 Common-Size Comparative Income Statements points For Years Ended December 31, 2017, 2016, and 2015 0140 16 2017 2016 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses eBook Print Total expenses Income before taxes Income taxes Net income 13: Homework 6 Seved Required information 12 Problem 13-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 (The following information applies tothe 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 40:53 2017 2016 2015 $268, 200 Sales $504, 484 303,699 $386, 476 243, 480 ok Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses 171,648 142, 996 53, 334 96, 552 35, 402 22, 261 200, 785 71,637 nt 45, 404 117,041 83,744 15,576 $ 68, 168 34, 010 87, 344 57,663 38, 889 7,894 Income before taxes 55, 652 11, 409 $ 44, 243 Income taxes 30, 995 Net income 3. KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 Part 1 of 2 2015 2017 2016 Assets $ 52, 993 4, 940 57, 383 $ 50, 670 $ 39,643 900 Current assets Long-term investnents Plant assets, net 16.66 98, 643 92, 668 points $115, 316 $139, 186 $143, 338 Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings $ 20, 180 52, 000 $ 20,927 70, 000 8. 750 $ 20, 739 70, 000 8, 750 39, 697 5,778 37, 358 $115, 316 eBook 43, 661 $139, 186 $143, 338 Total liabilities and equity Print nsble 492A Dart 2 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) Part 1 of 2 KORBIN COMPANY 16.66 Common-Size Comparative Income Statements points For Years Ended December 31, 2017, 2016, and 2015 0140 16 2017 2016 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses eBook Print Total expenses Income before taxes Income taxes Net income
