Selected comparative financial statements of Korbin Company follow:

KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2015, 2014, and 2013
			2015				2014				2013
Sales		$	528,561			$	404,921			$	281,000
Cost of goods sold			318,194				255,505				179,840
Gross profit			210,367				149,416				101,160
Selling expenses			75,056				55,879				37,092
Administrative expenses			47,570				35,633				23,323
Total expenses			122,626				91,512				60,415
Income before taxes			87,741				57,904				40,745
Income taxes			16,320				11,870				8,271
Net income		$	71,421			$	46,034			$	32,474

KORBIN COMPANY

Comparative Balance Sheets

December 31, 2015, 2014, and 2013

2015

2014

2013

Assets

Current assets

$

51,480

$

40,277

$

53,841

Long-term investments

0

800

3,190

Plant assets, net

94,150

100,335

60,129

Total assets

$

145,630

$

141,412

$

117,160

Liabilities and Equity

Current liabilities

$

21,262

$

21,070

$

20,503

Common stock

70,000

70,000

52,000

Other paid-in capital

8,750

8,750

5,778

Retained earnings

45,618

41,592

38,879

Total liabilities and equity

$

145,630

$

141,412

$

117,160

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

Current Ratio

Choose Numerator:

/

Choose Denominator:

=

Current ratio

/

=

Current ratio

2015

/

=

to 1

2014

/

=

to 1

2013

/

=

to 1

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, 2015, 2014, and 2013
	2015			2014			2013
Sales		%		%		%
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
Total expenses
Income before taxes
Income taxes
Net income		%		%		%