The Korbin Company comparative income statements and balance sheets for years 20X4, 20X3, and 20X2 included the following items:

Required:
Express the income statement data in common size percentages. Round percentages to two decimal places.
Express the balance sheet data in trend percentages with 20X2 as the base year. Round percentages to the nearest whole number (zero decimal places).
Provide a statement for senior management in which you comment on the significant relationships revealed by the ratio and percentages computed in the above two questions plus calculate one significant liquidity, solvency, and profitability ratio as required to provide the status of the company based on the analysis of performance measures.

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Korbln Company - Comparatlve Income Statements For years ended December 31, 20X4, 20X3, and 20X2 20X2 $555,000 $340,000 $278,000 $283,500 212,500 $153,900 $271,500 127,500 $124,100 102,900 46,920 $50,800 $50,668$29,920 $ 22,800 $153,56876,840 $73,600 Income before taxes $11793250,660 50,500 $15,670 77,13240,290 $ 34,830 20X4 20X3 Sales Cost of goods sold Gross profit Selling expenses Admin expenses Total expenses Income taxes $40,800 $10,370 Net income Korbln Company - Comparatlve Balance Sheets At December 31, 20X4, 20X3, and 20X2 Assets: Current assets Long-term investments Plant assets, net Total assets 20X2 52,39037924 $51,748 $500 3,950 $100,000 $96,000 $ 60,000 $152,390 $134,424 $115,698 20X4 20X3 $0 20X4 $22,800$19,960 20,300 $72,00072,000 $60,000 Llabllitles and Equlty: 20X3 20X2 Current liabilities Common stock Other paid in capital $6,000 $48,59033,464 $29,390 Total Llablitles+Equity $152,390 $134,424 $115,698 9,0009,000 Retained earnings