[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 2013 Sales $ 541,540 $ 414,864 $287,900 Cost of goods sold 326,007 263,439 184,256 Gross profit Selling expenses Administrative expenses 215,533 76,899 48,739 151,425 57,251 36,508 103,644 38,003 23,896 Total expenses 125,638 93,759 61,899 Income before taxes Income taxes 89,895 16,720 57,666 11,822 41,745 8,474 Net income $ 73,175 $ 45,844 $ 33,271 2013 KORBIN COMPANY Comparative Balance Sheets December 31, 2015, 2014, and 2013 2015 2014 Assets Current assets $ 46,682 $36,523 Long-term investments 0 600 Plant assets, net 86,694 92,391 $ 48,822 3,320 55,160 Total assets $133,376 $129,514 $107,302 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings $ 19,473 65,000 8,125 40,778 $ 19,298 65,000 8,125 37,091 $ 18,778 47,000 5,222 36,302 Total liabilities and equity $133,376 $129,514 $107,302 Required: 1. Complete the below table to calculate each year's current ratio. Choose Numerator: Current Ratio Choose Denominator: 1 = Current ratio Current ratio to 1 to 1 to 1 = 2015 2014 2013 = 1 = References eBook & Resources Expanded table Learning Objective: horizontal analysis. Difficulty: 3 Hard Learning Objective: vertical analysis. Check my work value: 1.78 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 2015 2014 2013 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 2013 as the base year. (Round your percentage answers to 2 decimal places.) 2013 % KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2015, 2014, and 2013 2015 2014 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 % 100.00 % 100.00 100.00 100.00% % % 100.00% 100.00 100.00 100.00 100.00% %