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 $ 531,006 $ 406,794 $282,300 Cost of goods sold 319,666 255, 873 180,672 Gross profit 211,340 150,921 101,628 Selling expenses 75, 403 56,138 37,264 Administrative expenses 47,791 35,798 23, 431 Total expenses 123, 194 91,936 60,695 Income before taxes 88,146 58,985 40,933 Income tax expense 16,395 12,092 8,309 Net income $ 71,751 $ 46,893 $ 32,624 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 56, 432 $ 37,770 $ 50, 490 Long-term investments 0 700 4,120 Plant assets, net 106,430 96,819 57,477 Total assets $ 162,862 $135,289 $112,087 Liabilities and Equity Current liabilities $ 23,778 $ 20,158 Common stock $ 19,615 68,000 68,000 50,000 Other paid-in capital 8,500 8,500 5,556 Retained earnings 62,584 38,631 36,916 Total liabilities and equity $ 162,862 $ 135,289 $112,087 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 December 31, 2019, 2018 and 2017 2019 2018 2017 % % 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 % % %