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

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Selected comparative financial statements of Korbin Company follow.

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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 2016 as the base year. (Round percents to two decimals.)

4. Comment on any significant relations revealed by the ratios and percents computed.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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