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 $ 437,333 $335,033 $232,500 Cost of goods sold 263, 274 211,071 148,800 Gross profit 174,059 123,962 83,700 Selling expenses 62,101 46,235 30,690 Administrative 39,360 29,483 19,298 expenses Total expenses 101,461 75,718 49,988 Income before 72,598 48,244 33,712 taxes Income tax expense 13,5039,8906,844 Net income $ 59,095 $ 38,354 $ 26,868 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 57,902 $ 38, 754 $ 51,805 Long-term investments 0 700 3,970 Plant assets, net 110,909 100,776 60,406 Total assets $168,811 $140,230 $116,181 Liabilities and Equity Current liabilities $ 24,646 $ 20,894 $ 20,332 Common stock 64,000 64,000 46,000 Other paid-in capital 8,000 8,000 5,111 Retained earnings 72,165 47,336 44,738 Total liabilities and $ 168,811 $140,230 $116,181 $168 811 $140.230 $ 116 181 equity Problem 13-2A Part 2 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 Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % %