Selected comparative financial statements of Korbin Company follow: of 3 KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2018, 2017, and 2016 2018 2017 2016 Sales $ 445,797 $ 341,517 $ 237,000 Cost of goods sold 268,370 216,522 151,680 Gross profit 177,427 124,995 85, 320 Selling expenses 63,303 47,129 31,284 Administrative expenses 40,122 30,053 19,671 Total expenses 103, 425 A77,182 50,955 Income before taxes 74,002 47,813 34,365 Income tax expense 13,764 9,802 6,976 Net income $ 60,238 $ 38,011 $ 27,389 Book Print Terences 2016 KORBIN COMPANY Comparative Balance Sheets December 31, 2018, 2017, and 2016 2018 2017 Assets Current assets $ 48,369 $ 37,843 Long-term investments 900 Plant assets, net 91,224 96, 807 Total assets $ 139,593 $ 135,550 Liabilities and Equity Current liabilities $ 20,381 $ 20,197 Common stock 64,000 64,000 Other paid-in capital 8,000 8,000 Retained earnings 47.212 43,353 Total liabilities and equity $ 139,593 $135,550 $ 50,587 4,370 57, 346 $ 112,303 $ 19,653 46,000 5,111 41,539 $112, 303 Required: 1. Complete the below table to calculate each year's current ratio. es Current Ratio Choose Numerator: / Choose Denominator: = 1 = TIL 1 = TITLE= 2018: 2017: 2016: Current ratio Current ratio 0 to 1 oto 1 0 to 1 2 of 3 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) Book 2016 Print KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2018, 2017, and 2016 2018 2017 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses ferences Total expenses Income before taxes Income tax expense Net Income 3. Complete the below table to calculate the balance sheet data in trend percents with 2016 as the base year. (Round your percentage answers to 2 decimal places.) KORDIN COMPANY Balance Sheet Data in Trend Percents December 31, 2018, 2017 and 2016 2018 2017 2016 Assets Current assets ces 100.00 100.00 100.00 100.00 % Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid in capital Retained earnings Tot abties and equity 100.00 100.00 100.00 100.00 10000