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Required information [7' he 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 $423,225 $324,225 $225,000 Cost of goods sold 254,781 202,965 144,000 Gross profit 168,444 121,260 81,000 Selling expenses 60,098 44,743 29,700 Administrative expenses 38,090 28,532 18,675 Total expenses 98,188 73,275 48,375 Income before taxes 70,256 47,985 32,625 Income tax expense 13,068 9,837 6,623 Net income $ 57,188 $ 38,148 $ 26,002 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 54, 474 $ 36 , 460 $ 48, 738 Long-term investments 0 1, 100 3,960 Plant assets, net 104 , 342 94, 368 56 , 604 Total assets $ 158, 816 $ 131, 928 $ 109, 302 Liabilities and Equity Current liabilities $ 23, 187 $ 19, 657 $ 19 , 128 Common stock 70, 000 70 , 000 52 , 000 Other paid-in capital 8 , 750 8 , 750 5 , 778 Retained earnings 56, 879 33 , 521 32, 396 Total liabilities and equity $ 158 , 816 $ 131, 928 $ 109, 302Required: 1. Complete the below table to calculate each year's current ratio. Current Ratio Choose Numerator: Choose Denominator: = Current ratio - S Current ratio 2019 = to 1 2018 S to 1 2017 = to 1

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