Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31,...

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Accounting

Selected comparative financial statements of Korbin Companyfollow:
KORBIN COMPANY Comparative Income Statements For Years EndedDecember 31, 2017, 2016, and 2015
2017 2016 2015 Sales $ 392,189 $ 300,449 $ 208,500 Cost of goodssold 236,098 189,884 133,440 Gross profit 156,091 110,565 75,060Selling expenses 55,691 41,462 27,522 Administrative expenses35,297 26,440 17,306 Total expenses 90,988 67,902 44,828 Incomebefore taxes 65,103 42,663 30,232 Income taxes 12,109 8,746 6,137Net income $ 52,994 $ 33,917 $ 24,095 KORBIN COMPANY ComparativeBalance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015Assets Current assets $ 53,162 $ 41,593 $ 55,599 Long-terminvestments 0 900 3,460 Plant assets, net 100,263 106,488 64,372Total assets $ 153,425 $ 148,981 $ 123,431 Liabilities and EquityCurrent liabilities $ 22,400 $ 22,198 $ 21,600 Common stock 71,00071,000 53,000 Other paid-in capital 8,875 8,875 5,889 Retainedearnings 51,150 46,908 42,942 Total liabilities and equity $153,425 $ 148,981 $ 123,431
2. Complete the below table to calculate income statement datain common-size percents.
3. Complete the below table to calculate thebalance sheet data in trend percents with 2015 as the baseyear.

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2 KORBIN COMPANY Comparative Income Statement For years ended Dec 31 2017 2016 2015 2017 2016 2015 Sales 10000 10000 10000 Cost of goods sold 6020 6320 6400 Gross Profit 3980 3680 3600 Selling expenses 1420 1380 1320 See Answer

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