8 Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 Part 1 of 2 Sales Cost of goods sold Gross profit 12 points Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income 2017 2016 $ 461,221 $ 353,333 2015 $ 245,200 277,655 223,306 156,928 183,566 130,027 88,272 65,493 48,760 32,366 41,510 31,093 20,352 107,003 79,853 52,718 76,563 50,174 35,554 14,241 10,286 7,217 $ 62,322 $ 39,888 $ 28,337 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2016 $ 43,329 1,000 106,308 2015 $ 57,921 3,820 63,062 2017 $ 55,381 0 99,749 $ 155,130 $ 150,637 $ 124,803 $ 22,649 $ 22,445 Assets 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 67,000 8,375 67,000 8,375 57,106 52,817 $ 155,130 $ 150,637 $ 21,841 49,000 5,444 48,518 $ 124,803 00 8 Retained cann Required information 817 18 518 Part 1 of 2 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 12 points KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income 2017 % 2016 2015 % % % % % Submit