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Complete the below table to calculate the balance sheet

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Reference no: EM13586922

Selected comparative financial statements of Korbin Company follow:

KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2014, 2013, and 2012



2014


2013


2012
  Sales
$ 436,392

$ 334,312

$ 232,000
  Cost of goods sold

262,708


211,285


148,480













  Gross profit

173,684


123,027


83,520
  Selling expenses

61,968


46,135


30,624
  Administrative expenses

39,275


29,419


19,256













  Total expenses

101,243


75,554


49,880













  Income before taxes

72,441


47,473


33,640
  Income taxes

13,474


9,732


6,829













  Net income
$ 58,967

$ 37,741

$ 26,811














KORBIN COMPANY
Comparative Balance Sheets
December 31, 2014, 2013, and 2012



2014


2013


2012
  Assets











  Current assets
$ 53,080

$ 41,529

$ 55,514
  Long-term investments

0


900


4,450
  Plant assets, net

100,109


106,323


63,277













  Total assets
$ 153,189

$ 148,752

$ 123,241













  Liabilities and Equity











  Current liabilities
$ 22,366

$ 22,164

$ 21,567
  Common stock

69,000


69,000


51,000
  Other paid-in capital

8,625


8,625


5,667
  Retained earnings

53,198


48,963


45,007













  Total liabilities and equity
$ 153,189

$ 148,752

$ 123,241














1.value:

20.00 points

Required:
1. Complete the below table to calculate each year's current ratio. (Round your answers to 1 decimal place.)


referencesebook & resources

2.value:

20.00 points

2.

Complete the below table to calculate income statement data in common-size percents. (Round your answers to 2 decimal places.)


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3.value:

20.00 points

3.

Complete the below table to calculate the balance sheet data in trend percents with 2012 as the base year. (Round your answers to 2 decimal places.)

Reference no: EM13586922

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