troPCS HUGE Saved ework KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2819 2018 2017 Sales $ 386,546 $ 296,126 205,5ee Cost of goods sold 232,701 187,744 L 131,520 Gross profit 153,845 108,382 73,989 Selling expenses 54,899 40,865 27,126 Administrative expenses 34.789 26,059 17,057 Total expenses 89,679 66,924 44,183 Income before taxes 64,166 41.458 29,797 Income tax expense 11.935 6.849 Net income $ 52,231 $ 32,959 $ 23,748 1, 20e KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 Assets Current assets 5 $ 7.025 $ 38.167 Long-term Investments Plant assets, net 107,550 97,345 Total assets $ 136,712 Liabilities and Equity Current liabilities 3.370 Common stock Other paid in capital Retained earnings Total liabilities and equ 51 $ 51,021 4,380 57.865 5 1137266 164.575 $ 19,822 54,00 6,000 S 113,266 Regulred: 304 earch o x 9 Chapter 13 Homew. I R TPOS - Store ID: 5 34-8086 number VOC Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Choose Denominator: Choose Numerator: - Current ratio Current ratio to 1 2019 2018 2017 to 1 to 1