2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.)

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 2021 2020 Sales $ 449,559 $ 344, 399 Cost of goods sold 270,635 218,693 Gross profit 178,924 125,706 Selling expenses 63,837 47,527 Administrative expenses 40,460 30, 307 Total expenses 104,297 77,834 Income before taxes 74,627 47,872 Income tax expense 13,881 9,814 Net income $ 60,746 $ 38,058 2019 $ 239,000 152,960 86,040 31,548 19,837 51,385 34,655 7,035 $ 27,620 2020 2019 KORBIN COMPANY Comparative Balance Sheets December 31 2021 Assets Current assets $ 61,741 Long-term investments 0 Plant assets, net 114,663 Total assets $ 176,404 Liabilities and Equity Current liabilities $ 25,755 Common stock 71,000 Other paid-in capital 8,875 Retained earnings 70,774 Total liabilities and equity $ 176,404 $ 41,324 500 104,714 $ 146,538 $ 55, 240 3,340 62,827 $ 121,407 $ 21,834 71,000 8,875 44,829 $ 146,538 $ 21, 246 53,000 5,889 41,272 $ 121,407 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage a decimal places.) Answer is not complete. 2019 100.00 % KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 2021 2020 Sales 100.00% 100.00 % Cost of goods sold 270,635.00 X Gross profit (270.535.00) Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % % %