Selected comparative financial statements of Korbin Company follow
KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2016, 2015, and 2014 2016 2015 2014
Sales $518,216 $396,996 $275,500
Cost of goods sold 311,966 250,504 176,320
Gross profit 206,250 146,492 99,180
Selling expenses 73,587 54,785 36,366
Administrative expenses 46,639 34,936 22,867
Total expenses 120,226 89,721 59,233
Income before taxes 86,024 56,771 39,947
Income taxes 16,000 11,638 8,109
Net income $70,024 $45,133 $31,838
KORBIN COMPANY
Comparative Balance Sheets December 31, 2016, 2015, and 2014 2016 2015 2014
Assets Current assets $54,735 $42,823 $57,245
Long-term investments 0 1,000 3,010
Plant assets, net 100,102 106,529 64,312
Total assets $154,837 $150,352 $124,567
Liabilities and Equity Current liabilities $22,606 $22,402 $21,799
Common stock 69,000 69,000 51,000
Other paid-in capital 8,625 8,625 5,667
Retained earnings 54,606 50,325 46,101
Total liabilities and equity $154,837 $150,352 $124,567
Required:
1. Complete the below table to calculate each year's current ratio.
2. Complete the below table to calculate income statement data in common-size percents
3. Complete the below table to calculate the balance sheet data in trend percents with 2014 as the base year. (Round your percentage answers to 2 decimal places.)