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. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 491,505 $376,533 $ 261,300 Cost of goods sold 295,886 238, 345 167,232 Gross profit 195,619 138,188 94,068 Selling expenses 69,794 51,962 34,492 Administrative expenses 44, 235 33, 135 21,688 Total expenses 114,029 85,097 56,180 Income before taxes 81,590 53,091 37,888 Income tax expense 15, 176 10,884 7,691 Net income $ 66,414 $ 42,207 $ 30,197 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 Assets Current assets $ 57,833 $ 38,708 Long-term investments 0 700 Plant assets, net 107,405 97,854 Total assets $ 165,238 $ 137,262 Liabilities and Equity Current liabilities $ 24, 125 $ 20,452 Common stock 70,000 70,000 other paid-in capital 8,750 8,750 Retained earnings 62,363 38,060 Total liabilities and equity $ 165,238 $ 137,262 $ 51,744 4,890 57,088 $ 113,722 $ 19,9011 52,000 5,778 36,043 $113,722 Problem 13-2A Part 3 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 Docember 31, 2019, 2018 and 2017 2019 2018 2017 % % Assets Current assets Long-term investments Plant assets, net Total assets Llabilities and Equity Current liabilities 100.00 % 100.00 100.00 100.00 % % % % % 100.00% Common stock 100.00 100.00 100.00 Other paid-in capital Retained earnings Total abilities and equity % % 100,00