Requirea information Problem 13-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 506, 365 $ 387,917 $ 269,200 Cost of goods sold 304,832 245,939 172,288 Gross profit 201,533 141,978 96,912 Selling expenses 71,904 53,533 35,534 Administrative expenses 45,573 34, 137 22,344 Total expenses 117,477 87,670 57,878 Income before taxes 84,056 54,308 39,034 Income tax expense 15,634 1133 7,924 Net income $ 68,422 $ 43,175 $ 31, 110 2017 KORBIN COMPANY Comparative Balance Sheet December 31, 2019, 2018, and 2017 2019 2018 Assets Current assets $ 61,902 $ 41,431 Long-term investments 1,100 Plant assets, net 116,746 105,871 Total assets $ 178,648 $ 148,402 Liabilities and Equity Current liabilities 26,083 $ 22,112 Common stock 66,000 66,000 Other paid-in capital 8,250 8,250 Retained earnings 78,315 52,040 Total liabilities and equity $ 178,648 $ 148,402 $ 55,383 4,240 63,328 $ 122,951 $ 21,516 48,000 5,333 48, 102 $ 122,951 2. Complete the below table to calculate income statement data in common-size p decimal places.) 2017 KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 Sales 506,365.00% Cost of goods sold n Gross profit Selling expenses L Administrative expenses Total expenses Income before taxes Income tax expense Net income % % %