Problem 17-2A Part 33. Complete the below table to calculate the balance sheet data in trend percents with 2015 as the base year. (Round yourpercentage answers to 2 decimal places.)KORBIN COMPANYBalance Sheet Data in Trend PercentsDecember 31, 2017, 2016 and 2015201720162015AssetsCurrent assets100.00 %Long-term investments100.00Plant assets, net100.00Total assets100.00 %Liabilities and EquityCurrent liabilities100.00 %Common stock100.00Other paid-in capital100.00Retained earnings100.00Total liabilities and equity%100.00 % 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 COMPANYComparative Income StatementsFor Years Ended December 31, 2017, 2016, and 2015201720162015$ 396,891238,928157,96356,359$ 304,051191,248112,80341,95926,756$ 211,000135,04075,96027,852SalesCost of goods soldGross profitSelling expensesAdministrative expenses35,72092,07965,88412,25417,51345,36530,595Total expenses68,71544,0889,038Income before taxesIncome taxes6,211Net income$ 53,630$ 35,050$24,384KORBIΝ COMPΑNYComparative Balance SheetsDecember 31, 2017, 2016, and 2015201720162015Assets$ 49,213$38,5031,20095,481Current assets$51,470Long-term investments4,10090,003$ 139,21656,430$ 112,000Plant assets, netTotal assets$ 135,184Liabilities and Equity$ 20,32667,0008,37543,51520,14267,0008,37539,667Current liabilities$$19,60049,0005,444Common stockOther paid-in capitalRetained earnings37,956Total liabilities and equity$ 139,216$ 135,184$ 112,000

Trend analysis is very important technique for analysing financial statements. Under this analysis,…

Problem 17-2A Part 3 3. Complete the below table to calculate the balance sheet data in trend percents with 2015 as the base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2017, 2016 and 2015 2017 2016 2015 Assets Current assets 100.00 % Long-term investments 100.00 Plant assets, net 100.00 Total assets 100.00 % Liabilities and Equity Current liabilities 100.00 % Common stock 100.00 Other paid-in capital 100.00 Retained earnings 100.00 Total liabilities and equity 100.00 %

Problem 17-2A Part 3 3. Complete the below table to calculate the balance sheet data in trend percents with 2015 as the base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2017, 2016 and 2015 2017 2016 2015 Assets Current assets 100.00 % Long-term investments 100.00 Plant assets, net 100.00 Total assets 100.00 % Liabilities and Equity Current liabilities 100.00 % Common stock 100.00 Other paid-in capital 100.00 Retained earnings 100.00 Total liabilities and equity 100.00 %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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