CH Required information Problem 13-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 [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, 2019, 2018, and 2017 2019 2018 2017 Sales $437,897 $335,465 $232,800 Cost of goods sold 263,614 213,020 148,992 Gross profit 174,283 122,445 83,808 Selling expenses 62,181 46,294 30,730 Administrative expenses 39,411 29,521 19,322 Total expenses 101,592 75,815 50,652 Income before taxes 72,691 46,630 Income tax expense 33,756 13,521 9,559 6,852 Net income $ 59,170 $ 37,071 $ 26,904 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 53,356 $ 35,711 $ 47,738 Long-term investments 1,100 3,230 Plant assets, net 102,201 92,409 56,091 Total assets $ 155,557 $129,220 $ 107,059 Liabilities and Equity Current liabilities $ 22,711 $ 19,254 Common stock $ 18,735 63,000 63,000 Other paid-in capital 45,000 7,875 7,875 5,000 Dri O Required information INICI IN UNI ILICUIUS MUUTC ICULUULIU MIUI your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 2018 2017 Assets Current assets % % 100.00 % Long-term investments 100.00 Plant assets, net Total assets 100.00 100.00 % % % Liabilities and Equity Current liabilities % % 100.00 % 100.00 Common stock Other paid-in capital Retained earnings Total liabilities and equity 100.00 % 100.00 100.00 % %