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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, 2017, 2016, and 2015
2017 2016 2015
Sales $ 534,204 $ 409,244 $ 284,000
Cost of goods sold 321,591 258,233 181,760
Gross profit 212,613 151,011 102,240
Selling expenses 75,857 56,476 37,488
Administrative expenses 48,078 36,013 23,572
Total expenses 123,935 92,489 61,060
Income before taxes 88,678 58,522 41,180
Income taxes 16,494 11,997 8,360
Net income $ 72,184 $ 46,525 $ 32,820

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2017, 2016, and 2015
2017 2016 2015
Assets
Current assets $ 45,216 $ 35,376 $ 47,289
Long-term investments 0 1,200 3,140
Plant assets, net 86,609 91,431 55,625
Total assets $ 131,825 $ 128,007 $ 106,054
Liabilities and Equity
Current liabilities $ 19,246 $ 19,073 $ 18,559
Common stock 70,000 70,000 52,000
Other paid-in capital 8,750 8,750 5,778
Retained earnings 33,829 30,184 29,717
Total liabilities and equity $ 131,825 $ 128,007 $ 106,054

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

3. Complete the below table to calculate the balance sheet data in trend percents with 2015 as the base year. (Round your percentage answers to 2 decimal places.)

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