[The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2015, 2014, and 2013 2015 2014 Sales $532,511 $407,947 2013 $283,100 Cost of goods sold 320,572 256,191 181,184 Gross profit 211,939 151,756 101,916 Selling expenses 75,617 56,297 37,369 Administrative expenses 47,926 35,899 23,497 Total expenses 123,543 92,196 60,866 Income before taxes 88,396 59,560 41,050 Income taxes 16,442 12,210 8,333 Net income $ 71,954 $ 47,350 $ 32,717 Assets KORBIN COMPANY Comparative Balance Sheets December 31, 2015, 2014, and 2013 Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity 2015 2014 2013 $ 47,700 $ 37,320 $ 49,888 0 88,586 500 94,519 3,920 55,835 $136,286 $132,339 $109,643 Current liabilities $ 19,898 $ 19,719 $ 19,188 Common stock 71,000 71,000 53,000 Other paid-in capital 8,875 8,875 5,889 Retained earnings 36,513 32,745 31,566 Total liabilities and equity $136,286 $132,339 $109,643 Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Choose Numerator: Choose Denominator: Current = ratio Current 1 ratio 2015 1 = to 1 2014 1 = to 1 2013 ' to 1 References eBook & Resources Expanded table Learning Of analysis. Difficulty: 3 Hard Learning Ob Check my work value: 2.40 points 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, 2015, 2014, and 2013 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income 2015 2014 2013 % % % % % % 3. Complete the below table to calculate the balance sheet data in trend percents with 2013 as the base year. (Round your percentage answers to 2 decimal places.) Assets KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2015, 2014, and 2013 2015 2014 2013 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%