Required 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:

Problem 13-2A Part 2

2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.)

KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2015 2017 2016 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income $ 409,306 $313,562 $217,600 139,264 78,336 28,723 18,061 46,784 31,552 6,405 $ 55,307 35,897 25,147 246,402 162,904 58,121 36,838 94,959 67,945 12,638 197,544 116,018 43,272 27,593 70,865 45,153 9,256 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets Long-term investments Plant assets, net Total assets $ 47,003 $36,774 $ 49,158 3,490 54,322 $ 132,964 $129,113 $106,970 400 91,939 85,961 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 19,413 19,238 18,720 46,000 5,111 37,139 $ 132,964 $129,113 $106,970 64,000 8,000 41,551 64,000 8,000 37,875 KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2015 2016 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income