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, 2019, 2018, and 2017 2019 2018 2017 Sales $ 547,935 $ 419,763 $ 291,300 Cost of goods sold 329,857 264,870 186,432 Gross profit 218,078 154,893 104,868 Selling expenses 77,807 57,927 38,452 Administrative expenses 49,314 36,939 24,178 Total expenses 127, 121 94,866 62,630 Income before taxes 90,957 60,027 42,238 Income tax expense 16,918 12,305 8,574 Net income $ 74,039 $ 47,722 $ 33,664 2018 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 Assets Current assets $ 57,881 Long-term investments 0 Plant assets, net 109,163 Total assets $ 167,044 Liabilities and Equity Current liabilities $ 24,388 Common stock 73,000 Other paid-in capital 9,125 Retained earnings 60,531 Total liabilities and equity $ 167,044 $ 38,740 900 99,123 $ 138,763 $ 51,786 4,280 58,899 $ 114,965 $ 20,676 73,000 9,125 35,962 $ 138,763 $ 20,119 55,000 6,111 33,735 $ 114,965 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, 2019, 2018, and 2017 2019 2018 2017 Sales % % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % % %