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Required information Problem 17-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 [The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 561,667 $430,283 $298,600 Cost of goods sold 338,124 268,927 191,104 Gross profit 223,543 161,356 107, 496 Selling expenses 79,757 59,379 39,415 Administrative expenses 50,550 37,865 24,784 Total expenses 130,307 97,244 64,199 Income before taxes 93,236 64,112 43,297 Income tax expense 17,342 13, 143 8,789 Net income $ 75,894 $ 50,969 $ 34,508 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 59,530 $ 39,844 $ 53,262 Long-term investments 0 600 4,740 Plant assets, net 114,028 103,730 61,446 Total assets $ 173,558 $144,174 $ 119,448 Liabilities and Equity Current liabilities $ 25,339 $ 21,482 $ 20,903 Common stock 71,000 71,000 53,000 Other paid-in capital 8,875 8,875 5,889 Retained earnings 68,344 42,817 39,656 Total liabilities and equity $ 173,558 $144,174 $ 119,448 Help Required: Compute the following: (1) current ratio, (2) acid-test ratio (3) days' sales uncollected. (4) inventory turnover, (5) days' sales in inventory (6) debt-to-equity ratio, (7) times interest earned. (8) profit margin ratio (9) total asset turnover (10) return on total assets, and (11) return on common stockholders' equity. (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg 4 Reg 5 Reg 6 Req 7 Req8 Reg 9 Reg 10 Reg 11 Compute the current ratio and acid-test ratio. Current Ratio Choose Denominator: Choose Numerator: 1 Current Ratio Current ratio to 1 1 Acid-Test Ratio 1 Choose Denominator: Choose Numerator: Acid-Test Ratio Acid-Test Ratio to 1 / Rog 1 and Req3 > Required: Compute the following: (1) current ratio, (2) acid-test ratio. (3) days' sales uncollected.(4) inventory turnover (5) days sales in inventory (6) debt-to-equity ratio. 7) times interest earned, (8) profit margin ratio (9) total asset turnover, (10) return on total assets, and (7) return on common stockholders' equity. (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Reg 4 Reg 5 Reg 6 Reg 1 and 2 Reg 3 Compute the days' sales uncollected Reg 7 Req8 Reg 9 Reg 10 Reg 11 (3) Choose Numerator: Days' Sales Uncollected Choose Denominator: Days / Days Sales Uncollected - Days sales uncollected days Total liabilities and equity $ 259,200 ints Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected. (4) Inventory turnover. (5) days' sales in inventory (6) debt-to-equity ratio. times interest earned, (8) profit margin ratio. (9) total asset turnover (10) return on total assets, and (11) return on common stockholders' equity (Do not round Intermediate calculations.) Book Complete this question by entering your answers in the tabs below. Print Reg 4 Regs Req6 Reg 7 Reg 8 Reg 9 Reg 10 Reg 11 Feferences Req 1 and 2 Req3 Compute the inventory turnover. (4) Inventory Turnover Choose Denominator: Choose Numerator: Inventory Turnover = Inventory turnover times 1 Help Her Go inventory Prepaid expenses plant assets, bet Total assets Check my work Long-ter note pays. Ces by mortgage os plantas 2.750 Commen ock 153.300 Betained earning $ 259,200 Total liabilities and quity 33.000 02.100 Required: Compute the following: (1) current ratio (2) acio-test ratio (3) days sales uncollected, (4) Inventory turnover (5) des sales in inventory (6) debt-to-equity ratio) times interest earned. (3) profit margin ratio (9) total asset turnover (10) return on ossets, and return on common stockholders' equity (Do not round intermediate calculations) Complete this question by entering your answers in the tabs below. Regs Reg 6 Meg? Reg Re9 Rea 1 and 2 Req Reg4 Compute the days' sales in Inventory RQ10 (5) Choose Numerator Das Sales In Inventory Choose Denominator Days 1 Day's Intory Days' sale in very days 1 x Required: Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover (5) days soles in inventory (6) debt-to-equity ratio (7) times interest earned. (8) profit margin ratio (9) total asset turnover (10) return on total assets, and (11) return on common stockholders' equity. (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg 4 Reqs Req6 Reg 7 Req8 Reg 5 Reg 10 RAG 11 Compute the debt-to-equity ratio, (6) Choose Numerator: Debt-to-Equity Ratio Choose Denominator 1 1 Debt-to-Equity Ratio Debt-to-equity ratio to 1 12) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover. (5) days' sales in inventory (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio (9) total asset turnover (10) return on total assets, and (1) return on common stockholders' equity. (Do not round intermediate calculations.) BOOK Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 5 Reg 6 Rea 7 Req8 Reg 9 Reg 10 Reg 11 Reg 3 Reg1 Compute the times interest eamed tences (7) Times Interest Larred Choose Denominator Choose Numerator Times Interest Earned Times interesteamed times on common stockholders eq Complete this question by entering your answers in the tabs below. Req9 Reg 10 Reg 11 Reg 8 Reg 7 Reg 1 and 2 Reg 3 Reg 4 Reg 5 Reg 6 Compute the profit margin ratio. (8) Profit Margin Ratio Choose Denominator: Choose Numerator: Profit margin ratio Profit margin ratio % 1 Complete this question by entering your answers in the tabs below. Reg 11 Reg 9 Reg 10 Reg 7 Reg 8 Reg 6 Reg 4 Reg 5 Req3 Reg 1 and 2 Compute the total asset turnover. (9) Total Asset Turnover Choose Denominator: 1 Choose Numerator: Total Asset Turnover Total asset turnover 1 times 1 Reg 10 > 5 Required: Compute the following: (1) current ratio. (2) acid-test ratio, 3) days' sales uncollected, (4) inventory turnover. (5) days sales in inventory (6) debt-to-equity ratio, 7) times interest earned. (8) profit margin ratio, 19) total asset turnover,00) return on total assets, and (1) return on common stockholders' equity (Do not round intermediate calculations.) Boot Complete this question by entering your answers in the tabs below. Print Reg 1 and 2 Reg Re6 Rea? Re Reg Reg 10 Red 11 Botences Reg 3 Reg 4 Compute the return on common stockholders' eculty Return on Commen Stockholders County Choose Dennar Choose Numerator: - Return On Common Stockholders' Equity Return on common stockholderswouly