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, 2017, 2016, and 2015 2017 2016 2015 Sales $445, 233 $341,085 $236, 700 Cost of goods sold 268,030 214,884 151, 488 Gross profit 177, 203 126, 201 85,212 Selling expenses 63,223 47,070 31, 244 Administrative expenses 40, 071 30, 015 19,646 Total expenses 103, 294 77,085 50, 890 Income before taxes 73,909 49, 116 34, 322 Income taxes 13, 747 10,069 Net income $ 60, 162 $ 39,047 $ 27, 355 6,967 KORBIN COMPANY Comparative Balance Sheets December 31, 2017 2016 and 2015 Check 2015 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 Assets Current assets $ 45, 620 $ 35, 692 Long-term investments 500 Plant assets, net 87.383 92,959 Total assets $133,003 $129, 151 Liabilities and Equity Current liabilities $ 19, 418 $ 19, 243 Common stock 65,000 65,000 Other paid-in capital 8. 125 8, 125 Retained earnings 40, 460 36, 783 Total liabilities and equity $133, 003 $129, 151 $ 47,712 3,570 55, 720 $107.002 $ 18,725 47,000 5, 222 36,055 $107,902 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.) Required information Vecmidi piales.) of 2 2015 % -ok KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 Sales % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income % % nt %