Required information [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 Sales Cost of goods sold Gross profit Selling expenses Total expenses Administrative expenses Income before taxes Income tax expense Net income 2021 $ 502,415 2020 $ 384,891 2019 $ 267,100 302,454 244,406 170,944 199,961 140,485 96,156 71,343 53,115 35,257 45,217 33,870 22,169 116,560 86,985 57,426 83,401 53,500 38,730 15,513 10,968 7,862 $ 67,888 $ 42,532 $ 30,868 KORBIN COMPANY Comparative Balance Sheets. December 31 Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 106,863 $ 164,405 $ 136,571 2021 2020 $ 57,542 0 $ 38,513 500 97,558 2019 $ 51,483 3,140 58,526 $ 113,149 $ 24,003 71,000 8,875 $ 20,349 71,000 $ 19,801 8,875 60,527 36,347 53,000 5,889 34,459 $ 164,405 $ 136,571 $ 113,149 2. Complete the below table to calculate income statement data in common-size percents. Note: Round your percentage answers to 2 decimal places. KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2021 % % 2020 2019 % % + 900 % %