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 $ 493,763 $ 378, 263 $ 262,500 Cost of goods sold 297, 245 237,171 168,000 Gro33 profit 196,518 141,092 94,500 Selling expenses 70, 114 52,200 34,650 Administrative expenses 44,439 33,287 21,788 Total expenses 114,553 85, 487 56, 438 Income before taxes 81,965 55, 605 38,062 Income taxes 15, 245 11,399 7 ,727 Net income $ 66,720 $ 44,206 $ 30,335 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets $ 48,765 $ 38,152 $ 51,001 Long-term investments 01, 2003, 210 Plant assets, net 93,406 99,701 60,166 Total assets $ 142,171 $ 138,053 $ 114,377 Liabilities and Equity Current liabilities $ 20,757 $ 20,570 $ 20,016 Common stock 69,000 69,000 51,000 Other paid-in capital 8,6258 , 625 5, 667 Retained earnings 43,78939, 85837, 694 Total liabilities and equity $ 142,171 $ 138,053 $ 114,377 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.) 2015 % 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