1 ! Required information [The following information applies to the questions displayed below.] t 1 of 2 Selected comparative financial statements of Korbin Company follow. ts eBook KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 451,628 $ 345,984 $ 240,100 Cost of goods sold 271,880 219,354 153,664 Gross profit 179,748 126,630 86,436 Selling expenses 64,131 47,746 31,693 Administrative expenses 40,647 30, 447 19,928 Total expenses 104,778 78,193 51,621 Income before taxes 74,970 48,437 34,815 Income tax expense 13,944 9,930 7,067 Net income $ 61,026 $ 38,507 $ 27,748 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 Assets 2018 2017 Saved Net Income 01,020 38,507 21,748 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 60,769 $ 40, 673 $ 54,370 Long-term investments 0 500 4,200 Plant assets, net 109,453 100,229 58,582 Total assets $ 170,222 $ 141,402 $ 117,152 Liabilities and Equity Current liabilities $ 24,852 $ 21,069 $ 20,502 Common stock 70,000 70,000 52,000 Other paid-in capital 8,750 8,750 5,778 Retained earnings 66,620 41,583 38,872 Total liabilities and equity $ 170,222 $141,402 $ 117, 152 2. Complete the below table to calculate income statement data in common-size percents. (Round your pe decimal places.) KORBIN COMPANY Common-Size Comparative Income Statements Prev of 6 Next > 1 Required information 2. Complete te verow LADIE lu cailuidle LUME Salement udla III CUTION-size percen decimal places.) KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 % % % Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % % % Required information KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 2018 2017 Assets % 100.00 % 100.00 100.00 100.00 % % Current assets 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 % % 100.00 % 100.00 100.00 100.00 % % 100.00 %