CH17 HW171 i Saved Help Save & Exi Chec Requirea information Problem 17-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 (The following information applies to the questions displayed below.) Part 3 of 4 Selected comparative financial statements of Korbin Company follow. 25 points Skipped KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 494,327 $ 378,695 $ 262,800 Cost of goods sold 297,585 238,199 168,192 Gross profit 196,742 140,496 94,608 Selling expenses 70,194 52, 260 34,690 Administrative expenses 44,489 33, 325 21,812 Total expenses 114,683 85,585 56,502 Income before taxes 82,059 54,911 38,106 Income tax expense 15, 263 11,257 7,736 Net income $ 66,796 $ 43,654 $ 30,370 eBook Print References KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 55,729 $ 37,299 $ 49,861 Long-term investments 1,1004 ,200 Plant assets, net 106,745 96,568 57,759 Total assets $ 162,474 $ 134,967 $ 111,820 Liabilities and Equity Current liabilities $ 23,721 $ 20,110 $ 19,569 Common stock 64,000 64,000 46,000 Other naid.in canital 8.00 8.000 5 111 CH17 HW171 i Saved Help Save & Exi Chec Problem 17-2A Part 3 Part 3 of 4 3. Complete the below table to calculate the balance sheet data in trend percents with 2017 as base year. your percentage answers to 2 decimal places.) 25 points KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 2018 Skipped 2017 Assets Current assets eBook Print Long-term investments Plant assets, net 100.00 % 100.00 100.00 100.00 % References Total assets 100.00 % 100.00 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 100.00 100.00 100.00 %