KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2019, 2018, and 2017
	2019			2018			2017
Sales	$	421,908		$	323,216		$	224,300
Cost of goods sold		253,989			204,919			143,552
Gross profit		167,919			118,297			80,748
Selling expenses		59,911			44,604			29,608
Administrative expenses		37,972			28,443			18,617
Total expenses		97,883			73,047			48,225
Income before taxes		70,036			45,250			32,523
Income tax expense		13,027			9,276			6,602
Net income	$	57,009		$	35,974		$	25,921

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2019, 2018, and 2017
	2019			2018			2017
Assets
Current assets	$	61,469		$	41,141		$	54,996
Long-term investments		0			400			4,140
Plant assets, net		110,712			101,489			59,364
Total assets	$	172,181		$	143,030		$	118,500
Liabilities and Equity
Current liabilities	$	25,138		$	21,311		$	20,738
Common stock		66,000			66,000			48,000
Other paid-in capital		8,250			8,250			5,333
Retained earnings		72,793			47,469			44,429
Total liabilities and equity	$	172,181		$	143,030		$	118,500

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 Assets 100.00 % 100.00 % 100.00 % Current assets Long-term investments 100.00 Plant assets, net 100.00 Total assets % % 100.00 % Liabilities and Equity Current liabilities % 100.00 % Common stock 100.00 Other paid-in capital 100.00 Retained earnings 100.00 Total liabilities and equity % % 100.00 % 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 2017 100.00% KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 Sales 100.00% 100.00% Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % % %