KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 Sales $ 512,384 $ 392,528 Cost of goods sold 308,455 247,293 Gross profit 203,929 145,235 Selling expenses 72,759 54,169 Administrative expenses 46,115 34,542 Total expenses 118,874 88,711 Income before taxes 85,055 56,524 Income tax expense 15,820 11,587 Net income $ 69,235 $ 44,937 2019 $ 272,400 174,336 98,064 35,957 22,609 58,566 39,498 8,018 $ 31,480 2019 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 Assets Current assets $ 58,396 $ 39,085 Long-term investments 0 800 Plant assets, net 110,135 100,113 Total assets $ 168,531 $ 139,998 Liabilities and Equity Current liabilities $ 24,606 $ 20,860 Common stock 65,000 65,000 Other paid-in capital 8,125 8,125 Retained earnings 70,800 46,013 Total liabilities and equity $ 168,531 $ 139,998 $ 52,247 4,870 58,871 $ 115,988 $ 20,298 47,000 5,222 43,468 $ 115,988 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 2019 KORDIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2010 2021 2020 Sales % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net Income