Connect Hw Ch 13 6 Saved Help Save & Exit S Check my w 3 Required information [The following information applies to the questions displayed below. Selected comparative financial statements of Korbin Company follow: Part 2 of 3 1.38 points KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2016 522,166 400,022 277,600 254,014 146,008 55,203 2017 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes 314,344 207,822 74,148 46,995 121,143 86,679 16,122 177,664 99,936 36,643 eBook 35,202 23U4 90,405 55,603 11,399 70,557 44,204 32,081 59,684 40,252 8,171 Print Net income References KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2016 50,276 39,335 52,581 100,559 2017 2015 Assets Current assets Long-term investments Plant assets, net Total assets 4,750 59,400 $145,097 140,894 116,731 1,000 94,821 Liabilities and Equity Current liabilities Common stock other paid-in capital Retained earnings 50,000 5,556 40,747 $145,097 140,894 116,731 21,184 20,993 20,428 68,000 8,500 43,401 68,000 8,500 47,413 Total liabilities and equity c Mc Graw Hill 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income 100.00 100.00 | % 100.00 % (314,344.00) (314,244.00)