KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 541,728 $ 415,008 $ 288,000 Cost of goods sold 326,120 262,285 184,320 Gross profit 215,608 152,723 103,689 Selling expenses 76,925 57,271 38,016 Administrative expenses 48,756 36,521 23,984 Total expenses 125,681 93,792 61,920 Income before taxes 89,927 58,931 41,760 Income tax expense 16,726 12,081 8,477 Net income $ 73,201 $ 46,850 $ 33,283 2018 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 Assets Current assets $ 58,170 Long-term investments Plant assets, net 111,421 Total assets $ 169,591 Liabilities and Equity Current liabilities $ 24,760 Common stock 71,000 Other paid in capital 8,875 Retained earnings 64,956 Total liabilities and equity $ 169,591 $ 38,933 500 101,446 $ 140,879 $ 52,045 3,870 60,803 $ 116,718 $ 20,991 71,000 8,875 40,013 $ 140,879 $ 20,426 53,000 5,889 37,403 $ 116,718 3. Complete the below table to calculate the balance sheet data in trend percents with 2017 as base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 2018 2017 5 100.00% 0.00 100 00 100.00 100,00 % Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other pald-in capital Retained earings Total liabilities and equity % 100.00 100.00 100.00 100.00 100.00 %