The following information applies to the questions displayed below.] Selected comparative financial...

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Accounting

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, 2014, 2013, and 2012
2014 2013 2012
Sales $ 555,000 $ 340,000 $ 278,000
Cost of goods sold 283,500 212,500 153,900
Gross profit 271,500 127,500 124,100
Selling expenses 102,900 46,920 50,800
Administrative expenses 50,668 29,920 22,800
Total expenses 153,568 76,840 73,600
Income before taxes 117,932 50,660 50,500
Income taxes 40,800 10,370 15,670
Net income $ 77,132 $ 40,290 $ 34,830

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2014, 2013, and 2012
2014 2013 2012
Assets
Current assets $ 52,390 $ 37,924 $ 51,748
Long-term investments 0 500 3,950
Plant assets, net 100,000 96,000 60,000
Total assets $ 152,390 $ 134,424 $ 115,698
Liabilities and Equity
Current liabilities $ 22,800 $ 19,960 $ 20,300
Common stock 72,000 72,000 60,000
Other paid-in capital 9,000 9,000 6,000
Retained earnings 48,590 33,464 29,398
Total liabilities and equity $ 152,390 $ 134,424 $ 115,698

Required:
1. Complete the below table to calculate each year's current ratio. (Round your answers to 1 decimal place.)
2.

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

3.

Complete the below table to calculate the balance sheet data in trend percents with 2012 as the base year. (Round your answers to 2 decimal places.)

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