Question

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	$	479,843		$	367,599		$	255,100
Cost of goods sold		288,865			230,117			163,264
Gross profit		190,978			137,482			91,836
Selling expenses		68,138			50,729			33,673
Administrative expenses		43,186			32,349			21,173
Total expenses		111,324			83,078			54,846
Income before taxes		79,654			54,404			36,990
Income tax expense		14,816			11,153			7,509
Net income	$	64,838		$	43,251		$	29,481

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2019, 2018, and 2017
	2019			2018			2017
Assets
Current assets	$	54,825		$	36,695		$	49,052
Long-term investments		0			1,100			4,700
Plant assets, net		98,747			89,776			51,941
Total assets	$	153,572		$	127,571		$	105,693
Liabilities and Equity
Current liabilities	$	22,422		$	19,008		$	18,496
Common stock		67,000			67,000			49,000
Other paid-in capital		8,375			8,375			5,444
Retained earnings		55,775			33,188			32,753
Total liabilities and equity	$	153,572		$	127,571		$	105,693

Complete the below table to calculate the balance sheet data in trend percents with 2017 as base year. (Round your percentage answers to 2 decimal places.)

Answer 1

Korbin Company
Balance Sheet Data in Trend percentage
For the year's ended December 31, 2019, 2018, 2017
	2019		2018		2017
	(i)	(i) / (iii)	(ii)	(ii) / (iii)	(iii)
Assets
Current Assets	$     54,825	111.77%	$     36,695	74.81%	$    49,052	100.00%
Long Term investments	$              -		$       1,100	23.40%	$      4,700	100.00%
Plant assets, net	$     98,747	190.11%	$     89,776	172.84%	$    51,941	100.00%
Total Assets	$ 1,53,572	145.30%	$ 1,27,571	120.70%	$1,05,693	100.00%
Liabilities and equity
Current liabilities	$     22,422	121.23%	$     19,008	102.77%	$    18,496	100.00%
Common stock	$     67,000	136.73%	$     67,000	136.73%	$    49,000	100.00%
other paid in capital	$       8,375	153.84%	$       8,375	153.84%	$      5,444	100.00%
Retained earnings	$     55,775	170.29%	$     33,188	101.33%	$    32,753	100.00%
Total liabilities and equity	$ 1,53,572	145.30%	$ 1,27,571	120.70%	$1,05,693	100.00%