0 104,816 $ 162, 129 1,000 95,320 $ 134,679 3, 120 57,184 $111,582 Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 23,671 66,000 8,250 64,208 $ 162,129 $ 20,067 66,000 8,250 40,362 $ 134,679 $ 19,527 48,000 5,333 38,722 $ 111,582 2. Complete the below table to calculate income statement data in common-size percents. decimal places.) KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales 112.00% % % :0 Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense % % % Net income Required information [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, 2019, 2018, and 2017 2019 2018 2017 Sales $ 433,382 $ 332,006 $230,400 Cost of goods sold 260,896 209,164 147,456 Gross profit 172,486 122,842 82,944 Selling expenses 61,540 45,817 30,413 Administrative expenses 39,004 29,217 19,123 Total expenses 100,544 75,034 49,536 Income before taxes 71,942 47,808 33,408 Income tax expense 13,381 9,801 6,782 Net income $ 58,561 $ 38,007 $ 26,626 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 Assets Current assets $ 57, 313 $ 38, 359 Long-term investments 0 1,000 Plant assets, net 104,816 95,320 Total assets $ 162, 129 $ 134,679 Liabilities and Equity Current liabilities $ 23, 671 $ 20,067 Common stock 66,000 66,000 Other paid-in capital 8,250 8,250 Retained earnings 64,208 40, 362 Total liabilities and equity $ 162, 129 $ 134,679 $ 51, 278 3, 120 57, 184 $111,582 $ 19,527 48,000 5, 333 38,722 $ 111,582