Question
Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2014, 2013, and 2012 2014 2013 2012
Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2014, 2013, and 2012 2014 2013 2012 Sales $ 453,509 $ 347,425 $ 241,100 Cost of goods sold 273,012 217,835 154,304 Gross profit 180,497 129,590 86,796 Selling expenses 64,398 47,945 31,825 Administrative expenses 40,816 30,573 20,011 Total expenses 105,214 78,518 51,836 Income before taxes 75,283 51,072 34,960 Income taxes 14,003 10,470 7,097 Net income $ 61,280 $ 40,602 $ 27,863 KORBIN COMPANY Comparative Balance Sheets December 31, 2014, 2013, and 2012 2014 2013 2012 Assets Current assets $ 51,075 $ 39,960 $ 53,417 Long-term investments 0 700 3,920 Plant assets, net 93,409 99,639 58,901 Total assets $ 144,484 $ 140,299 $ 116,238 Liabilities and Equity Current liabilities $ 21,095 $ 20,905 $ 20,342 Common stock 64,000 64,000 46,000 Other paid-in capital 8,000 8,000 5,111 Retained earnings 51,389 47,394 44,785 Total liabilities and equity $ 144,484 $ 140,299 $ 116,238 | |||
Complete the below table to calculate each year's current ratio. (Round your answers to 1 decimal place.)
Complete the below table to calculate income statement data in common-size percents. (Round your answers to 2 decimal places.)
Complete the below table to calculate the balance sheet data in trend percents with 2012 as the base year. (Round your answers to 2 decimal places.) | |
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