**PLEASE FILL OUT THE GRAPH DISPLAYED**
Selected comparative financial statements of Korbin Companyfollow:
KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2015, 2014, and 2013 2015 2014 2013 Sales $ 378,645 $ 290,073 $ 201,300 Costof goods sold 227,944 181,586 128,832 Gross profit 150,701 108,487 72,468 Selling expenses 53,768 40,030 26,572 Administrative expenses 34,078 25,526 16,708 Total expenses 87,846 65,556 43,280 Income before taxes 62,855 42,931 29,188 Income taxes 11,691 8,801 5,925 Netincome $ 51,164 $ 34,130 $ 23,263
KORBIN COMPANY Comparative Balance Sheets December 31, 2015, 2014, and 2013 2015 2014 2013 Assets Current assets $ 47,581 $ 37,227 $ 49,763 Long-term investments 0 900 4,800 Plant assets, net 87,020 92,575 53,724 Total assets $ 134,601 $ 130,702 $ 108,287 Liabilities and Equity Current liabilities $ 19,652 $ 19,475 $ 18,950 Common stock 72,000 72,000 54,000 Other paid-in capital 9,000 9,000 6,000 Retained earnings 33,949 30,227 29,337 Total liabilities and equity $ 134,601 $ 130,702 $ 108,287
Current Ratio Choose Numerator / Choose Denominator = Current ratio / = Current ratio 2015 / = ____ to 1 2014 / = ____ to 1 2013 / = ____ to 1
Complete the below table to calculate income statement data incommon-size percents. (Round your percentage answers to 2decimal places.)
Korbin Company Common-size comparative income statements For Years Ended December 31, 2015, 2014, and 2013 2015 2014 2013 Sales % % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income % % %
Complete the below table to calculate the balance sheet data intrend percents with 2013 as the base year. (Round yourpercentage answers to 2 decimal places.)
Korbin Company Balance sheet data in trend percents December 31, 2015, 2014, and 2013 2015 2014 2013 Assests Current assets % % 100.0 % Long-term investments 100.0 Plant assets, net 100.0 Total assets 100.0 âLiabilities and Equity Current liabilities % % 100.0 % Common stock 100.0 Other paid-in capital 100.0 Retained earnings 100.0 Total liabilities and equity % % 100.0 %
**PLEASE FILL OUT THE GRAPH DISPLAYED**
| **PLEASE FILL OUT THE GRAPH DISPLAYED** Selected comparative financial statements of Korbin Companyfollow: |
| KORBIN COMPANY | ||||||||||||
| Comparative Income Statements | ||||||||||||
| For Years Ended December 31, 2015, 2014, and 2013 | ||||||||||||
| 2015 | 2014 | 2013 | ||||||||||
| Sales | $ | 378,645 | $ | 290,073 | $ | 201,300 | ||||||
| Costof goods sold | 227,944 | 181,586 | 128,832 | |||||||||
| Gross profit | 150,701 | 108,487 | 72,468 | |||||||||
| Selling expenses | 53,768 | 40,030 | 26,572 | |||||||||
| Administrative expenses | 34,078 | 25,526 | 16,708 | |||||||||
| Total expenses | 87,846 | 65,556 | 43,280 | |||||||||
| Income before taxes | 62,855 | 42,931 | 29,188 | |||||||||
| Income taxes | 11,691 | 8,801 | 5,925 | |||||||||
| Netincome | $ | 51,164 | $ | 34,130 | $ | 23,263 | ||||||
| KORBIN COMPANY | ||||||||||||
| Comparative Balance Sheets | ||||||||||||
| December 31, 2015, 2014, and 2013 | ||||||||||||
| 2015 | 2014 | 2013 | ||||||||||
| Assets | ||||||||||||
| Current assets | $ | 47,581 | $ | 37,227 | $ | 49,763 | ||||||
| Long-term investments | 0 | 900 | 4,800 | |||||||||
| Plant assets, net | 87,020 | 92,575 | 53,724 | |||||||||
| Total assets | $ | 134,601 | $ | 130,702 | $ | 108,287 | ||||||
| Liabilities and Equity | ||||||||||||
| Current liabilities | $ | 19,652 | $ | 19,475 | $ | 18,950 | ||||||
| Common stock | 72,000 | 72,000 | 54,000 | |||||||||
| Other paid-in capital | 9,000 | 9,000 | 6,000 | |||||||||
| Retained earnings | 33,949 | 30,227 | 29,337 | |||||||||
| Total liabilities and equity | $ | 134,601 | $ | 130,702 | $ | 108,287 | ||||||
| Choose Numerator | / | Choose Denominator | = | Current ratio | |
|---|---|---|---|---|---|
| / | = | Current ratio | |||
| 2015 | / | = | ____ to 1 | ||
| 2014 | / | = | ____ to 1 | ||
| 2013 | / | = | ____ to 1 |
Complete the below table to calculate income statement data incommon-size percents. (Round your percentage answers to 2decimal places.)
| Korbin Company | ||||||
| Common-size comparative income statements | ||||||
| For Years Ended December 31, 2015, 2014, and 2013 | ||||||
| 2015 | 2014 | 2013 | ||||
| Sales | % | % | % | |||
| Cost of goods sold | ||||||
| Gross profit | ||||||
| Selling expenses | ||||||
| Administrative expenses | ||||||
| Total expenses | ||||||
| Income before taxes | ||||||
| Income taxes | ||||||
| Net income | % | % | % |
Complete the below table to calculate the balance sheet data intrend percents with 2013 as the base year. (Round yourpercentage answers to 2 decimal places.)
| Korbin Company | ||||||
| Balance sheet data in trend percents | ||||||
| December 31, 2015, 2014, and 2013 | ||||||
| 2015 | 2014 | 2013 | ||||
| Assests | ||||||
| Current assets | % | % | 100.0 | % | ||
| Long-term investments | 100.0 | |||||
| Plant assets, net | 100.0 | |||||
| Total assets | 100.0 | |||||
| âLiabilities and Equity | ||||||
| Current liabilities | % | % | 100.0 | % | ||
| Common stock | 100.0 | |||||
| Other paid-in capital | 100.0 | |||||
| Retained earnings | 100.0 | |||||
| Total liabilities and equity | % | % | 100.0 | % |
**PLEASE FILL OUT THE GRAPH DISPLAYED**
Related questions
| KORBIN COMPANY | |||||||||
| Comparative Income Statements | |||||||||
| For Years Ended December 31, 2017, 2016, and 2015 | |||||||||
| 2017 | 2016 | 2015 | |||||||
| Sales | $ | 397,455 | $ | 304,483 | $ | 211,300 | |||
| Cost of goods sold | 239,268 | 192,738 | 135,232 | ||||||
| Gross profit | 158,187 | 111,745 | 76,068 | ||||||
| Selling expenses | 56,439 | 42,019 | 27,892 | ||||||
| Administrative expenses | 35,771 | 26,795 | 17,538 | ||||||
| Total expenses | 92,210 | 68,814 | 45,430 | ||||||
| Income before taxes | 65,977 | 42,931 | 30,638 | ||||||
| Income taxes | 12,272 | 8,801 | 6,220 | ||||||
| Net income | $ | 53,705 | $ | 34,130 | $ | 24,418 | |||
| KORBIN COMPANY | |||||||||
| Comparative Balance Sheets | |||||||||
| December 31, 2017, 2016, and 2015 | |||||||||
| 2017 | 2016 | 2015 | |||||||
| Assets | |||||||||
| Current assets | $ | 53,412 | $ | 41,789 | $ | 55,862 | |||
| Long-term investments | 0 | 1,000 | 4,480 | ||||||
| Plant assets, net | 99,195 | 105,398 | 62,431 | ||||||
| Total assets | $ | 152,607 | $ | 148,187 | $ | 122,773 | |||
| Liabilities andEquity | |||||||||
| Current liabilities | $ | 22,281 | $ | 22,080 | $ | 21,485 | |||
| Common stock | 69,000 | 69,000 | 51,000 | ||||||
| Other paid-in capital | 8,625 | 8,625 | 5,667 | ||||||
| Retained earnings | 52,701 | 48,482 | 44,621 | ||||||
| Total liabilities andequity | $ | 152,607 | $ | 148,187 | $ | 122,773 | |||
|
2. Complete the below table to calculate incomestatement data in common-size percents. 3. Complete the below table to calculate thebalance sheet data in trend percents with 2015 as the baseyear. | |||||||||
| KORBIN COMPANY | ||||||||||||
| Comparative Income Statements | ||||||||||||
| For Years Ended December 31, 2014, 2013, and 2012 | ||||||||||||
| 2014 | 2013 | 2012 | ||||||||||
| Sales | $ | 484,358 | $ | 371,058 | $ | 257,500 | ||||||
| Costof goods sold | 291,584 | 232,282 | 164,800 | |||||||||
| Gross profit | 192,774 | 138,776 | 92,700 | |||||||||
| Selling expenses | 68,779 | 51,206 | 33,990 | |||||||||
| Administrative expenses | 43,592 | 32,653 | 21,373 | |||||||||
| Total expenses | 112,371 | 83,859 | 55,363 | |||||||||
| Income before taxes | 80,403 | 54,917 | 37,337 | |||||||||
| Income taxes | 14,955 | 11,258 | 7,579 | |||||||||
| Netincome | $ | 65,448 | $ | 43,659 | $ | 29,758 | ||||||
| KORBIN COMPANY | |||||||||||||||||
| Comparative Balance Sheets | |||||||||||||||||
| December 31, 2014, 2013, and 2012 | |||||||||||||||||
| 2014 | 2013 | 2012 | |||||||||||||||
| Assets | |||||||||||||||||
| Current assets | $ | 48,055 | $ | 37,597 | $ | 50,259 | |||||||||||
| Long-term investments | 0 | 600 | 3,870 | ||||||||||||||
| Plant assets, net | 89,246 | 95,127 | 56,330 | ||||||||||||||
| Total assets | $ | 137,301 | $ | 133,324 | $ | 110,459 | |||||||||||
| Liabilities and Equity | |||||||||||||||||
| Current liabilities | $ | 20,046 | $ | 19,865 | $ | 19,330 | |||||||||||
| Common stock | 66,000 | 66,000 | 48,000 | ||||||||||||||
| Other paid-in capital | 8,250 | 8,250 | 5,333 | ||||||||||||||
| Retained earnings | 43,005 | 39,209 | 37,796 | ||||||||||||||
| Total liabilities and equity | $ | 137,301 | $ | 133,324 | $ | 110,459 | |||||||||||
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