Selected comparative financial statements of korbin company follow

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 $ 437,333 $ 335,033 $ 232,500
Cost of goods sold 263,274 211,406 148,800




Gross profit 174,059 123,627 83,700
Selling expenses 62,101 46,235 30,690
Administrative expenses 39,360 29,483 19,298




Total expenses 101,461 75,718 49,988




Income before taxes 72,598 47,909 33,712
Income taxes 13,503 9,821 6,844




Net income $ 59,095 $ 38,088 $ 26,868

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2014, 2013, and 2012
2014 2013 2012
Assets
Current assets $ 52,013 $ 40,694 $ 54,398
Long-term investments 0 1,000 4,870
Plant assets, net 96,595 102,610 60,288




Total assets $ 148,608 $ 144,304 $ 119,556




Liabilities and Equity
Current liabilities $ 21,697 $ 21,501 $ 20,922
Common stock 66,000 66,000 48,000
Other paid-in capital 8,250 8,250 5,333
Retained earnings 52,661 48,553 45,301




Total liabilities and equity $ 148,608 $ 144,304 $ 119,556

rev: 09_16_2014_QC_53979

7.
value:
10.00 points
Required information

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.