Selected comparative financial statements of Korbin Company follow.

KORBIN COMPANY

Comparative Income Statements

For Years Ended December 31, 2016, 2015, and 2014

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2016, 2015, and 2014

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 2014 as the base year. (Round percents to two decimals.)
Analysis Component
4. Comment on any notable relations revealed by the ratios and percents computed?

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2016 2015 2014 $555,000 $340,000 $278,000 . 283,500 212,500 53,900 . 271,500 27,500 124,100 2,900 46,920 50,800 29,920 22,800 73600 50,660 50,500 15.670 . $77,132 $ 40,290 34,830 Gross profit Administrative expenses 50,668 .153,568 ...117.932 40,800 76,840 Income before taxes . .. Income taxes Net income 10,370 2016 2015 2014 Assets Current assets 52,390 $ 37,924 $51,748 3,950 60,000 . $152,390 $134,424 $115,698 500 Plant assets, net Total assets. . 100,000 96,000 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity.. 22,800 $ 19,960 20,300 60,000 6,000 29.398 . $152,390 $134,424 $115,698 72,000 9,000 48,590 72,000 9,000 33,464