alIUI [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, 2018, 2017, and 2016 2018 2017 2016 Sales $433, 759 $332,295 $230, 600 Cost of goods sold 261,123 209, 346 147,584 Gross profit 172,636 122, 949 83,016 Selling expenses 61, 594 45,857 30, 439 Administrative expenses 39,038 29, 242 19,140 Total expenses 100, 632 75,099 49,579 Income before taxes 72,004 47,850 33,437 Income tax expense 13,393 9,809 6, 788 Net income $ 58,611 $ 38,041 $ 26,649 + KORBIN COMPANY Comparative Balance Sheets December 31, 2018, 2017, and 2016 2018 2017 2016 Assets Current assets $ 47,782 $ 37,383 $ 49,973 Long-term investments 0 500 3,930 Plant assets, net 88, 737 94,682 55,927 Total assets $136,519 $132,565 $109,830 Liabilities and Equity Current liabilities $ 19,932 $ 19,752 $ 19,220 Common stock 66,000 66,000 48,000 Other paid-in capital 8, 250 8, 250 5, 333 Retained earnings 42,337 38,563 37,277 Total liabilities and equity $136,519 $132,565 $109, 830 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to : decimal places.) 2016 % KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2018, 2017, and 2016 2018 2017 Sales % 96 Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % %