Selected comparative financial statements of Korbin Company follow

KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2016, 2015, and 2014
			2016				2015				2014
Sales		$	502,039			$	384,603			$	266,900
Cost of goods sold			302,227				240,761				170,816
Gross profit			199,812				143,842				96,084
Selling expenses			71,290				53,075				35,231
Administrative expenses			45,184				33,845				22,153
Total expenses			116,474				86,920				57,384
Income before taxes			83,338				56,922				38,700
Income taxes			15,501				11,669				7,856
Net income		$	67,837			$	45,253			$	30,844

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2016, 2015, and 2014
			2016				2015				2014
Assets
Current assets		$	51,538			$	40,322			$	53,902
Long-term investments			0				800				3,600
Plant assets, net			95,714				101,865				60,963
Total assets		$	147,252			$	142,987			$	118,465
Liabilities and Equity
Current liabilities		$	21,499			$	21,305			$	20,731
Common stock			69,000				69,000				51,000
Other paid-in capital			8,625				8,625				5,667
Retained earnings			48,128				44,057				41,067
Total liabilities and equity		$	147,252			$	142,987			$	118,465

1. Complete the below table to calculate each year's current ratio.

Current Ratio
	Choose Numerator:	/	Choose Denominator:	=	Current ratio
		/		=	Current ratio
2016		/		=		to 1
2015		/		=		to 1
2014		/		=		to 1

2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.)

KORBIN COMPANY
Common-Size Comparative Income Statements
For Years Ended December 31, 2016, 2015, and 2014
	2016		2015		2014
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 2014 as the base year. (Round your percentage answers to 2 decimal places.)

KORBIN COMPANY
Balance Sheet Data in Trend Percents
December 31, 2016, 2015, and 2014
	2016		2015		2014
Assets
Current assets		%		%	100.00	%
Long-term investments					100.00
Plant assets, net					100.00
Total assets		%		%	100.00	%
Liabilities and Equity
Current liabilities		%		%	100.00	%
Common stock					100.00
Other paid-in capital					100.00
Retained earnings					100.00
Total liabilities and equity		%		%	100.00	%