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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. (Round your percentage answers to 2 decimal places.)

3. Complete the below table to calculate the balance sheet data in trend percents with 2017 as base year. (Round your percentage answers to 2 decimal places.)

[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, 2019, 2018, and 2017 2019 2018 2017 Sales $ 468,933 $ 359, 241 $ 249,300 Cost of goods sold 282,298 227,400 159,552 Gross profit 186,635 131, 841 89, 748 Selling expenses 66,588 49,575 32,908 Administrative expenses 42,204 31,613 20,692 Total expenses 108,792 81,188 53,600 Income before taxes 77, 843 50,653 36,148 Income tax expense 14,479 10,384 7,338 Net income $ 63,364 $ 40, 269 $ 28,810 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 Assets Current assets $ 63,638 $ 42,593 Long-term investments 0 500 Plant assets, net 116,386 106, 452 Total assets $ 180,024 $ 149,545 Liabilities and Equity Current liabilities $ 26,284 $ 22,282 Common stock 63,000 63,000 Other paid-in capital 7,875 7,875 Retained earnings 82,865 56,388 Total liabilities and equity $ 180,024 $ 149,545 $ 56,937 3,970 62,991 $ 123,898 $ 21,682 45,000 5,000 52,216 $ 123,898 Current Ratio Choose Numerator: Choose Denominator: 11 Current ratio Current ratio oto 1 0 to 1 2019 2018 / II 2017 / 0 to 1 KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales % % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % % % KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 2018 2017 % % 100.00 % 100.00 100.00 % % 100.00 % 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 %

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