Selected comparative financial statements of Korbin Company follow: ml KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2018, 2017, and 2016 2018 2017 2016 Sales $480,596 $368,176 $255,500 Cost of goods sold 289,319 231,215 163,520 Gross profit 191,277 136,961 91,980 Selling expenses 68,245 50, 808 33,726 Administrative expenses 43,254 32,399 21,207 Total expenses 111,499 83,207 54,933 Income before taxes 79,778 53,754 37,047 Income tax expense 14,839 11,020 7,521 Net income $ 64,939 $ 42,734 $ 29,526 ped Book Print deferences KORBIN COMPANY Comparative Balance sheets December 31, 2018, 2017, and 2016 2018 2017 2016 Assets Current assets $ 51,697 $ 40,446 $ 54,067 Long-term investments 700 4,490 Plant assets, net 94,546 100,861 59,096 Total assets $146,243 $142,07 $117,653 Liabilities and Equity Current liabilities $ 21,351 $ 21,159 $ 20,589 Common stock 66,000 66,000 48,000 other paid-in capital 8,250 8,250 5,333 Retained earnings 50,642 46,598 43,731 Total liabilities and equity $146,243 $142,007 $117,653 LUCILOSOOLS 4 24 v v v v v 2 v 700 4,490 94,546 100,861 59,096 $146, 243 $142,007 $117,653 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 $ 21,351 $ 21,159 $ 20,589 66,000 66,000 48,000 8,250 8,250 5,333 50,642 46,598 43,731 $146,243 $142,007 $117,653 bed Required: 1. Complete the below table to calculate each year's current ratio. Book Current Ratio Choose Denominator: Print Choose Numerator: = Current ratio Current ratio 2018: to eferences 2017: O to 1 2016: O to 1