Selected comparative financial statements of Korbin Company follow.

KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2020, 2019, and 2018
	2020			2019			2018
Sales	$	474,764		$	363,708		$	252,400
Cost of goods sold		285,808			227,681			161,536
Gross profit		188,956			136,027			90,864
Selling expenses		67,416			50,192			33,317
Administrative expenses		42,729			32,006			20,949
Total expenses		110,145			82,198			54,266
Income before taxes		78,811			53,829			36,598
Income tax expense		14,659			11,035			7,429
Net income	$	64,152		$	42,794		$	29,169

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2020, 2019, and 2018
	2020			2019			2018
Assets
Current assets	$	53,956		$	36,113		$	48,274
Long-term investments		0			700			4,030
Plant assets, net		98,677			89,979			52,743
Total assets	$	152,633		$	126,792		$	105,047
Liabilities and Equity
Current liabilities	$	22,284		$	18,892		$	18,383
Common stock		72,000			72,000			54,000
Other paid-in capital		9,000			9,000			6,000
Retained earnings		49,349			26,900			26,664
Total liabilities and equity	$	152,633		$	126,792		$	105,047

1. Complete the below table to calculate each year's current ratio. 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 3. Complete the below table to calculate the balance sheet data in trend percents with 2018 as base year. (Round your percentage answers to 2 decimal places.)

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 compared to the prior year?

• Yes

• No

Did income as a percent of sales improve in the most recent year compared to the prior year?

• Yes

• No

Did plant assets grow over this period?

• Yes

• No