Selected comparative financial statements of Korbin Company follow. Required 1. Compute each years current ratio. (Round ratio

Selected comparative financial statements of Korbin Company follow.

Required
1. Compute each year’s current ratio. (Round ratio amounts to one decimal.)
2. Express the income statement data in common- size percents. (Round percents to two decimals.)
3. Express the balance sheet data in trend percents with 2012 as the base year. (Round percents to two decimals.)
Analysis Component
4. Comment on any significant relations revealed by the ratios and percentscomputed.

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KORBIN COMPANY Comparative Income Statements For Years Ended December 31,2014, 2013,and 2012 2014 2013 Sales . $555,000 $340,000 $278,000 Gross profit Selling expenses.. 102,900 46,920 50,800 Administrative expenses Total expenses.. Income before taxes .. 7,932 50,660 50,500 Income taxes... 50.66829,920 22,800 153,568 76,840 73,600 40,800 10,370 15.670 KORBIN COMPANY Comparative Bałance Sheets December 31,2014,2013, and 2012 2014 2013 2012 Assets Long-term investmes Plant assets, net . Total assets. 52,390 37,924 51.748 500 3,950 .100,000 96,000 60,000 $152,390 $134,424 $115,698 ... Liabilities and Equity Current liabilities 22,800 $ 19,960 20.300 Common stock.. Other paid-in capital 72,000 72,000 60,000 9.000 48.590 33,464 29,.398 9,000 6,000 Retained earnings Total liabilities and equity ....$152,390 $134.424 $115.698