I need help with number 5 please ezto.mheducation.com Netflix Ch 17 Assignment [

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I need help with number 5 please

ezto.mheducation.com Netflix Ch 17 Assignment [The 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, 2015, 2014, and 2013 2015 2014 2013 $ 396,327 303,619 210,700 134,848 Sales Cost of goods sold 238,589 191,584 Gross profit Selling expenses Administrative expenses 157,738 56,278 35,669 112,035 41,899 26,718 75,852 27,812 17,488 Total expenses 91,947 68,617 45,300 Income before taxes Income taxes 65,791 12,237 30,552 6,202 43,418 8,901 Net income $ 53,554 34,517 24,350 KORBIN COMPANY Comparative Balance Sheets December 31, 2015, 2014, and 2013 2015 2014 2013 Assets Current assets Long-term investments Plant assets, net $ 50,430 39,455 52,743 3120 58,907 0 92,229 400 98,672 Total assets $142,659 $138,527 114,770 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings $ 20,828 20,641 20,085 45,000 5,000 44,685 63,000 7,875 50,956 63,000 7,875 47,011 Total liabilities and equity $ 142,659 $138,527 114,770

Explanation / Answer

KORBIN COMPANY

Balance Sheet data in Trend percents

December 31 2015 , 2014 , 2013 .

2015 2014 2013 ASSETS : Current assets 95.61% 74.81% 100% Long term investments 0 12.82% 100% Plant assets , net 156.57% 168% 100% Total assets 124.30% 120.70% 100% Liabilities&Equity: Current liabilities 103.70% 102.77% 100% Common stock 140% 140% 100% Other paid in capital 158% 158% 100% Retained earnings 114.03% 105.21% 100% Total liabilities & equity 124.30% 120.70% 100%

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