Selected comparative financial statements of Korbin Company follow

 

KORBIN COMPANYComparative Income StatementsFor Years Ended December 31, 2016, 2015, and 2014   2016   2015   2014 Sales $518,216  $396,996  $275,500 Cost of goods sold  311,966   250,504   176,320 Gross profit  206,250   146,492   99,180 Selling expenses  73,587   54,785   36,366 Administrative expenses  46,639   34,936   22,867 Total expenses  120,226   89,721   59,233 Income before taxes  86,024   56,771   39,947 Income taxes  16,000   11,638   8,109 Net income $70,024  $45,133  $31,838  

KORBIN COMPANYComparative Balance SheetsDecember 31, 2016, 2015, and 2014   2016   2015   2014 Assets            Current assets $54,735  $42,823  $57,245 Long-term investments  0   1,000   3,010 Plant assets, net  100,102   106,529   64,312 Total assets $154,837  $150,352  $124,567 Liabilities and Equity            Current liabilities $22,606  $22,402  $21,799 Common stock  69,000   69,000   51,000 Other paid-in capital  8,625   8,625   5,667 Retained earnings  54,606   50,325   46,101 Total liabilities and equity $154,837  $150,352  $124,567 

 2.

value:

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Required information

 

Required:

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

 

2. Complete the below table to calculate income statement data in common-size percents

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.)

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Status NEW Posted 16 Dec 2017 02:12 PM My Price 10.00

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