Required information Problem 17-2A 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 $ $ 472,131 361,691 251,000 Cost of goods sold 284,223 226,419 160,640 Gross profit 187,908 135,272 90,360 Selling expenses 67,043 49,913 33, 132 Administrative 42,492 31,829 20,833 expenses Total expenses 109,535 81, 742 53,965 Income before taxes 78,373 53,530 36,395 Income taxes 14,577 10, 974 7,388 Net income $63,796 $42,556 $29,007 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets $51,253 $40,099 $53,604 Long-term investments 0 1,100 3,500 Plant assets, net 96,664 102, 434 61,896 $ $ Total assets 147,917 143,633 119,000 Liabilities and Equity Current liabilities $21,596 $21,401 $20,825 Common stock 63,000 63,000 45,000 Other paid-in capital 7,875 7,875 5,000 Retained earnings 55,446 51,357 48, 175 Total liabilities and $ $ $ equity 147,917 143,633 119,000 Problem 17-2A 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, 2017, 2016, and 2015 2017 2016 2015 Sales % % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income % % %