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Required information Skip to question [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative

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[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 $ 405,732 $ 310,824 $ 215,700
Cost of goods sold 244,251 196,752 138,048
Gross profit 161,481 114,072 77,652
Selling expenses 57,614 42,894 28,472
Administrative expenses 36,516 27,353 17,903
Total expenses 94,130 70,247 46,375
Income before taxes 67,351 43,825 31,277
Income tax expense 12,527 8,984 6,349
Net income $ 54,824 $ 34,841 $ 24,928

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2019, 2018, and 2017
2019 2018 2017
Assets
Current assets $ 59,962 $ 40,133 $ 53,648
Long-term investments 0 700 4,110
Plant assets, net 111,358 101,482 60,150
Total assets $ 171,320 $ 142,315 $ 117,908
Liabilities and Equity
Current liabilities $ 25,013 $ 21,205 $ 20,634
Common stock 70,000 70,000 52,000
Other paid-in capital 8,750 8,750 5,778
Retained earnings 67,557 42,360 39,496
Total liabilities and equity $ 171,320 $ 142,315 $ 117,908

2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.)

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