NEYMRE TURQUUN 18 (The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. 2 of 3 2017 KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 Sales $ 545,114 $417,602 $ 289,800 Cost of goods sold 328 159 261,836 185,472 Gross profit 216,955 155,766 104,328 Selling expenses 77,406 57,629 38,254 Administrative expenses 49,060 36,749 24,053 Total expenses 126,466 94,378 62,307 Income before taxes 90,489 61,388 42,021 Income tax expense 16,831 12,584 8,530 Net income $ 73,658 $ 48,804 $ 33,491 Book Print 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 Assets Current assets $ 56,010 $ 37,487 Long-term investments 0 1,000 Plant assets, net 104,018 94.447 Total assets $ 160,028 $ 132,934 Liabilities and Equity current liabilities $ 23,364 $ 19,807 Common stock 72,000 72,000 Other paid-in capital 9,000 9,000 Retained earnings 55,664 32,127 Total liabilities and equity $ 160,028 $ 132,934 $ 50,112 4.430 55,594 $110,136 $ 19,274 54,000 6,000 30862 $ 110,136 2. Complete the below table to calculate income statement data in common-size percents. (Round y decimal places.) KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018 and 2017 2019 2018 2017 Sales % % % Cost of goods sold Gross profit Seiling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % % %