Required information

Problem 17-2A Ratios, common-size statements, and trend percentsLO P1, P2, P3

[The following information applies to the questionsdisplayed below.]

Selected comparative financial statements of Korbin Companyfollow:

KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2017, 2016, and2015
	2017			2016			2015
Sales	$	528,561		$	404,921		$	281,000
Cost of goods sold		318,194			253,481			179,840
Gross profit		210,367			151,440			101,160
Selling expenses		75,056			55,879			37,092
Administrative expenses		47,570			35,633			23,323
Total expenses		122,626			91,512			60,415
Income before taxes		87,741			59,928			40,745
Income taxes		16,320			12,285			8,271
Net income	$	71,421		$	47,643		$	32,474

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2017, 2016, and 2015
	2017			2016			2015
Assets
Current assets	$	49,834		$	38,989		$	52,119
Long-term investments		0			700			3,220
Plant assets, net		92,549			98,570			59,209
Total assets	$	142,383		$	138,259		$	114,548
Liabilities and Equity
Current liabilities	$	20,788		$	20,601		$	20,046
Common stock		71,000			71,000			53,000
Other paid-in capital		8,875			8,875			5,889
Retained earnings		41,720			37,783			35,613
Total liabilities and equity	$	142,383		$	138,259		$	114,548

1. Complete the below table to calculate eachyear's current ratio.

2. Complete the below table to calculate incomestatement data in common-size percents. (Round yourpercentage answers to 2 decimal places.)

3. Complete the below table to calculate thebalance sheet data in trend percents with 2015 as the base year.(Round your percentage answers to 2 decimalplaces.)

	Current Ratio Choose Numerator: / Choose Denominator: = Current ratio / = Current ratio 2017 / = 0 to 1 2016 / = 0 to 1 2015 / = 0 to 1

	KORBIN COMPANY Common-Size Comparative IncomeStatements For Years Ended December 31, 2017,2016, and 2015 2017 2016 2015 Sales % % % Cost of goods sold -1 -1 -1 Gross profit Selling expenses -1 -1 -1 Administrative expenses -1 -1 -1 Total expenses Income before taxes -1 -1 -1 Income taxes -1 -1 -1 Net income % % %

	KORBIN COMPANY Balance Sheet Data in TrendPercents December 31, 2017, 2016 and 2015 2017 2016 2015 Assets Current assets % % 100.00 % Long-term investments 100.00 Plant assets, net 100.00 Total assets % % 100.00 % Liabilities and Equity Current liabilities % % 100.00 % Common stock 100.00 Other paid-in capital 100.00 Retained earnings 100.00 Total liabilities andequity % % 100.00 %