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Selected comparative financial statements of Korbin Company follow.
| KORBIN COMPANY |
| Comparative Income Statements |
| For Years Ended December 31, 2017, 2016, and 2015 |
| | 2017 | 2016 | 2015 |
| Sales | $ | 555,000 | | $ | 340,000 | | $ | 278,000 | |
| Cost of goods sold | | 283,500 | | | 212,500 | | | 153,900 | |
| Gross profit | | 271,500 | | | 127,500 | | | 124,100 | |
| Selling expenses | | 102,900 | | | 46,920 | | | 50,800 | |
| Administrative expenses | | 50,668 | | | 29,920 | | | 22,800 | |
| Total expenses | | 153,568 | | | 76,840 | | | 73,600 | |
| Income before taxes | | 117,932 | | | 50,660 | | | 50,500 | |
| Income taxes | | 40,800 | | | 10,370 | | | 15,670 | |
| Net income | $ | 77,132 | | $ | 40,290 | | $ | 34,830 | |
| |
| KORBIN COMPANY |
| Comparative Balance Sheets |
| December 31, 2017, 2016, and 2015 |
| | 2017 | 2016 | 2015 |
| Assets | | | | | | | | | |
| Current assets | $ | 52,390 | | $ | 37,924 | | $ | 51,748 | |
| Long-term investments | | 0 | | | 500 | | | 3,950 | |
| Plant assets, net | | 100,000 | | | 96,000 | | | 60,000 | |
| Total assets | $ | 152,390 | | $ | 134,424 | | $ | 115,698 | |
| Liabilities and Equity | | | | | | | | | |
| Current liabilities | $ | 22,800 | | $ | 19,960 | | $ | 20,300 | |
| Common stock | | 72,000 | | | 72,000 | | | 60,000 | |
| Other paid-in capital | | 9,000 | | | 9,000 | | | 6,000 | |
| Retained earnings | | 48,590 | | | 33,464 | | | 29,398 | |
| Total liabilities and equity | $ | 152,390 | | $ | 134,424 | | $ | 115,698 | |
| |
3. Complete the below table to calculate the balance sheet data in trend percents with 2015 as the base year.
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