Selected comparative financial statements of Korbin Company follow KORBIN COMPANY Comparative income statements For Years Ended December 3 l, 2014, 2013, and 2012 2013 2014 201 $555,000 $340,000 $278,000 Sales 283,500 212,500 53,900 Cost of goods sold 271,500 27,500 24,100 Gross profit 102,900 46,920 50,800 Selling expenses 50,668 29,920 Administrative expenses 22,800 Total expenses 53,568 76,840 73,600 Income before taxes 7,932 50,660 50,500 40,800 0,370 5670 Income taxes 77,132 40,290 34,830 Net income KORBIN COMPANY 2012 2013 Assets Current assets 52,390 37,924 5,748 500 Long-term investments 3,950 100,000 96,000 60,000 Plant assets, net $152,390 $134424 $IIS,698 Total assets Liabilities and Equity 22,800 19,960 20,300 Current liabilities 60,000 72,000 72,000 Common stock 9,000 9,000 Other paid-in capital 6,000 48,590 33,464 29,398 Retained earnings Total liabilities and equity $152,390 $134,424 $115,698 Required 1. Compute each year's current ratio. (Round ratio amounts to one decimal.) 2. Express the income statement data in common-size percents. (Round percents to two decimals.)