Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales $ 388,238 $ 297,422 $206,400 Cost of goods sold 233,719 186,484 132,096 Gross profit 154,519 110,938 74,304 Selling expenses 55,130 41,044 27,245 Administrative expenses 34,941 26,173 17,131 Total expenses 90,071 67,217 44,376 Income before taxes 64,448 43,721 29,928 Income taxes 11,987 8,963 6,075 Net income $ 52,461 $ 34,758 $ 23, 853 2015 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 Assets Current assets $ 51,698 $ 40,447 Long-term investments 0 600 Plant assets, net 96,010 102,383 Total assets $147,708 $ 143, 430 Liabilities and Equity Current liabilities $ 21,565 $ 21,371 Common stock 72,000 72,000 Other paid-in capital 9,000 9,000 Retained earnings 45,143 41,059 Total liabilities and equity $147, 708 $ 143, 430 $ 54,069 3,990 60, 773 $ 118,832 $ 20,796 54,000 6,000 38,036 $ 118,832 Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Choose Numerator: I Choose Denominator: / / 1 2017 Current ratio Current ratio 0 to 1 0 to 1 0 to 1 2016 2015 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 2015 % % KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 Sales % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income % % % 3. Complete the below table to calculate the balance sheet data in trend percents with 2015 as the base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2017, 2016 and 2015 2017 2016 2015 % 100.00 % 100.00 100.00 100.00 % % % Assets Current assets Long-term investments 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 %