Selected comparative financial statements of Korbin Company follow KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2016, 2015, and 2014       2016       2015       2014   Sales   $ 450,688     $ 345,264     $ 239,600   Cost of goods sold     271,314       218,207       153,344   Gross profit     179,374       127,057       86,256   Selling expenses     63,998       47,646       31,627   Administrative expenses     40,562       30,383       19,887   Total expenses     104,560       78,029       51,514   Income before taxes     74,814       49,028       34,742   Income taxes     13,915       10,051       7,053   Net income   $ 60,899     $ 38,977     $ 27,689     KORBIN COMPANY Comparative Balance Sheets December 31, 2016, 2015, and 2014       2016       2015       2014   Assets                         Current assets   $ 48,835     $ 38,207     $ 51,074   Long-term investments     0       400       4,870   Plant assets, net     92,103       98,249       57,441   Total assets   $ 140,938     $ 136,856     $ 113,385   Liabilities and Equity                         Current liabilities   $ 20,577     $ 20,392     $ 19,842   Common stock     64,000       64,000       46,000   Other paid-in capital     8,000       8,000       5,111   Retained earnings     48,361       44,464       42,432   Total liabilities and equity   $ 140,938     $ 136,856     $ 113,385   1

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Selected comparative financial statements of Korbin Company follow

KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2016, 2015, and 2014
			2016				2015				2014
Sales		$	450,688			$	345,264			$	239,600
Cost of goods sold			271,314				218,207				153,344
Gross profit			179,374				127,057				86,256
Selling expenses			63,998				47,646				31,627
Administrative expenses			40,562				30,383				19,887
Total expenses			104,560				78,029				51,514
Income before taxes			74,814				49,028				34,742
Income taxes			13,915				10,051				7,053
Net income		$	60,899			$	38,977			$	27,689

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2016, 2015, and 2014
			2016				2015				2014
Assets
Current assets		$	48,835			$	38,207			$	51,074
Long-term investments			0				400				4,870
Plant assets, net			92,103				98,249				57,441
Total assets		$	140,938			$	136,856			$	113,385
Liabilities and Equity
Current liabilities		$	20,577			$	20,392			$	19,842
Common stock			64,000				64,000				46,000
Other paid-in capital			8,000				8,000				5,111
Retained earnings			48,361				44,464				42,432
Total liabilities and equity		$	140,938			$	136,856			$	113,385
1. Complete the below table to calculate each year's current ratio.     Current Ratio   Choose Numerator: / Choose Denominator: = Current ratio     /   = Current ratio 2016   /   = 0 to 1 2015   /   = 0 to 1 2014   /   = 0 to 1 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.)     KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2016, 2015, and 2014   2016 2015 2014 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   %   %   % 3. Complete the below table to calculate the balance sheet data in trend percents with 2014 as the base year. (Round your percentage answers to 2 decimal places.)     KORBIN COMPANY   Balance Sheet Data in Trend Percents   December 31, 2016, 2015, and 2014     2016   2015   2014   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 and equity   %   % 100.00 %