KURDIN LUMIPAVY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales $ 546, 242 $ 418,466 $ 290,400 Cost of goods sold 328,838 265,307 185,856 Gross profit 217,484 153, 159 104,544 Selling expenses 77,566 57,748 38,333 Administrative expenses 49,162 36,825 24,103 Total expenses 126,728 94,573 62,436 Income before taxes 90,676 58,586 42, 108 Income taxes 16,866 12,010 8,548 Net income $ 73,810 $ 46,576 $ 33,560 2016 2015 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 Assets Current assets $ 48,150 Long-term investments Plant assets, net 89,420 Total assets $ 137,570 Liabilities and Equity Current liabilities $ 20,085 Common stock 65,000 Other paid-in capital 8,125 Retained earnings 44,360 Total liabilities and equity $ 137,570 $ 37,671 500 95,415 $ 133,586 $ 50, 358 3,770 56,548 $ 110,676 $ 19,904 65,000 8,125 40,557 $ 133,586 $ 19,368 47,000 5,222 39,086 $ 110,676 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 2015 100.00% KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 Sales 100.001% 100.00 % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income % % % 3. Complete the below table to calculate the balance sheet data in trend percents with 2015 as the base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2017, 2016 and 2015 2017 2016 2015 % % 100.00 % 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 paid-in capital Retained earnings Total liabilities and equity % 100.00 % 100.00 100.00 100.00 100.00 % % %