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 Administrative expenses Total expenses Income before taxes Income tax expense Net income 2021 $ 479,091 2020 $ 367,023 2019 $ 254,700 288,413 230,857 163,008 190,678 136,166 91,692 68,031 50,649 33,620 43,118 32,298 21,140 111,149 82,947 54,760 79,529 53,219 36,932 14,792 10,910 7,497 $ 64,737 $ 42,309 $ 29,435 KORBIN COMPANY Comparative Balance Sheets December 31 2021 Assets Current assets Long-term investments Plant assets, net $ 53,974 100,237 Total assets $ 154,211 $ 128,103 Liabilities and Equity Current liabilities Common stock other paid-in capital Retained earnings $ 22,515 72,000 9,000 50,696 Total liabilities and equity $ 154,211 $ 128,103 2020 $ 36,125 1,100 90,878 $ 19,087 72,000 9,000 28,016 2019 $ 48,291 4,430 53,412 $ 106,133 $ 18,573 54,000 6,000 27,560 $ 106,133 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 % % % % %