[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 $555,000 $340,000 $278,000 Cost of goods sold 283,500 212,500 153,900 Gross profit 271,500 127,500 124,100 Selling expenses 102,900 46,920 50,800 Administrative expenses 50,668 29,920 22,800 Total expenses 153,568 76,840 73,600 Income before taxes 117,932 50,660 50,500 Income taxes 40, 800 10,370 15,670 Net income $ 77,132 $ 40,290 $ 34,830 2015 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 Assets Current assets $ 52,390 $ 37,924 Long-term investments 0 500 Plant assets, net 100,000 96,000 Total assets $152,390 $134,424 Liabilities and Equity Current liabilities $ 22,800 $ 19,960 Common stock 72,000 72,000 Other paid-in capital 9,000 9,000 Retained earnings 48,590 33,464 Total liabilities and equity $152,390 $134,424 $ 51,748 3,950 60,000 $115,698 $ 20,300 60,000 6,000 29, 398 $115,698 Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Choose Denominator: Choose Numerator: = I 2017: 2016: 2015: Current ratio Current ratio to 1 to 1 to 1 i 1 2. Complete the below table to calculate income statement data in common-size percents (Round your percentage answers to 2 decimal places.) 2015 KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income 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 100.00 % 100.00 100.00 100.00 % 100,00 % 100.00 Other paid-in capital 100.00 100.00 Retained earnings Total liabilities and equity 100.00 %