2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers decimal places.) 2019 % KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 2021 2020 Sales % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % % % Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 Sales $ 498,465 $ 381,865 Cost of goods sold 300, 076 238,666 Gross profit 198,389 143,199 Selling expenses 70,782 52,697 Administrative expenses 44,862 33,604 Total expenses 115,644 86,301 Income before taxes 82,745 56,898 Income tax expense 15,391 11,664 Net income $ 67,354 $ 45, 234 2019 $ 265,000 169,600 95,400 34,980 21,995 56,975 38,425 7,800 $ 30,625 2020 2019 KORBIN COMPANY Comparative Balance Sheets December 31 2021 Assets Current assets $ 52,413 Long-term investments Plant assets, net 100, 396 Total assets $ 152,809 Liabilities and Equity Current liabilities $ 22,310 Common stock 70, eee Other paid-in capital 8,750 Retained earnings 51,749 Total liabilities and equity $ 152,899 $ 35,081 700 91,157 $ 126,938 $ 46,894 4,720 53, 554 $ 105,168 $ 18,914 70, eee 8,750 29,274 $ 126,938 $ 18,484 52 , 5,778 28,986 $ 105,168