$ 559,786 336,991 Comparative Income Statements For Years Ended December 31 2021 2020 $ 428,842 271,028 2019 $ 297,600 190,464 222,795 157,814 107,136 79,490 59,180 39,283 50,381 37,738 24,701 129,871 96,918 63,984 92,924 60,896 43,152 17,284 12,484 8,760 $ 75,640 $ 48,412 $ 34,392 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income KORBIN COMPANY Comparative Balance Sheets December 31 Assets Current assets Long-term investments Plant assets, net 100,785 Total assets $ 154,224 $ 128,113 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 154,224 $ 128,113 2021 $ 53,439 $ 22,517 64,000 8,000 59,707 2020 $ 35,767 800 91,546 $ 19,089 64,000 8,000 37,024 2019 $ 47,812 4,970 53,360 $ 106,142 $ 18,575 46,000 5,111 36,456 $ 106,142 5 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) Sales KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2021 % 2020 2019 % % % % KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 2020 2019 Assets Current assets Long-term investments % % 100.00% 100.00 Plant assets, net 100.00 Total assets % % 100.00% Liabilities and Equity Current liabilities % % 100.00 % Common stock 100.00 Other paid-in capital Retained earnings 100.00 100.00 Total liabilities and equity % % 100.00 %