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, 2017, 2016, and 2015 2017 2016 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income 472,319 361,835 251,100 160,704 90,396 33,145 20,841 53,986 36,410 7,391 $ 63,822 41,999 29,019 284, 336 187,983 67,069 42,509 109,578 78,405 14,583 227,232 134,603 49,933 31,841 81,774 52,829 10,830 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2016 2017 2015 Assets Current assets Long-term investments Plant assets, net Total assets $ 49,781 38,948 $52,064 4,200 92,45198,764 58,16 142,232 138,112 114,426 400 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 20,766 20,579 20,025 52,000 5,778 38,78336, 02 $ 142,232 $138,112 114,426 70,000 8,750 42,716 70,000 8,750 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2016 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income