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Selected comparative financial statements of Korbin Company follow KORBIN...

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Accounting

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Selected comparative financial statements of Korbin Company follow KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2815 2017 2016 239,831 52,618 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income 497,713 381,289 264,6e0 169,344 95,256 34,927 21,962 56,889 38, 367 7,789 299,623 198,890 141,458 70,675 44, 794 115,469 82,621 15,368 86,171 55,287 11,334 67,25343,953 30,578 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets Long-term investments Plant assets, net Total assets 49,529 $ 38,75e51,8e0 1,100 97,563 4, 690 57,357 $ 141,512 137,413 $ 113,847 Liabilities and Equity Current liabilities Common stock other paid-in capital Retained earnings Total liabilities and equity s 20,661 20,475$ 19,923 64,000 8,000 44,938 64,000 8,000 46,000 5,111 42,813 113,847 s 141,512 $ 137,413 Required 1. Complete the below table to calculate each year's current ratio. Choose Numerator:Choose Denominator:Current ratio - Current ratio 2017 2016 2015 to 1 to 1 to 1

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