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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 $ 501,475 $ 384,171 $ 266,600
Cost of goods sold 301,888 242,796 170,624
Gross profit 199,587 141,375 95,976
Selling expenses 71,209 53,016 35,191
Administrative expenses 45,133 33,807 22,128
Total expenses 116,342 86,823 57,319
Income before taxes 83,245 54,552 38,657
Income tax expense 15,484 11,183 7,847
Net income $ 67,761 $ 43,369 $ 30,810

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2019, 2018, and 2017
2019 2018 2017
Assets
Current assets $ 60,167 $ 40,270 $ 53,832
Long-term investments 0 500 3,470
Plant assets, net 110,037 100,618 59,838
Total assets $ 170,204 $ 141,388 $ 117,140
Liabilities and Equity
Current liabilities $ 24,850 $ 21,067 $ 20,500
Common stock 69,000 69,000 51,000
Other paid-in capital 8,625 8,625 5,667
Retained earnings 67,729 42,696 39,973
Total liabilities and equity $ 170,204 $ 141,388 $ 117,140

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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