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[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
[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, 2017, 2016, and 2015 2017 2016 2015 Sales Cost of goods sold Gross profit Selling expensers Administrative expenses Total expenses Income before taxes Income taxes Net income $522,166 400,022 277,600 177,664 99,936 36,643 35,202 23,041 59,684 40,252 8,171 $ 70,557 44,204 32,081 314,344 207,822 74,148 46,995 121,143 86,679 16,122 254,014 146,008 55,203 90,405 55,603 11,399 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 AssetS Current assets Long-term investments Plant assets, net Total assets 50,276 39,335 52,581 1,000 94,821 100,559 4,750 59,400 145,097 $140,894 $116,731 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 21,184 20,993 20,428 50,000 5,556 40,747 145,097 $140,894 $116,731 68,000 8,500 47,413 68,000 8,500 43,401 3. Complete the below table to calculate the balance sheet data in trend percents with 2015 as the base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2017, 2016 and 2015 2017 2016 2015 Assets Current assets 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 100.001 % 100.00 100.00 100.001 % 100.001 % 100.00 100.00 100.00 100.001 %
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