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 $ 560,914 $ 429,706 $ 298, 200 Cost goods sold 337,670 268,996 190,848 Gross profit 223, 244 160, 710 107,352 Selling expenses 79,650 59,299 39, 362 Administrative expenses 50,482 37,814 24,751 Total expenses 130,132 97,113 64,113 Income before taxes 93,112 63,597 43,239 Income tax expense 17,319 13,037 8,778 Net income $ 75,793 $ 50,560 $ 34,461 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 Assets Current assets $ 56,209 $ 37,621 Long-term investments 800 Plant assets, net 107,665 97,788 Total assets $ 163,874 $ 136,129 Liabilities and Equity Current liabilities $ 23,926 $ 20,283 Common stock 67,000 67,000 Other paid in capital 8,375 8,375 Retained earnings 64,573 40,471 Total liabilities and equity $ 163,874 $ 136,129 $ 50,29e 4,310 58,183 $ 112,783 $ 19,737 49,000 5,444 38,602 $ 112,783 40.471 Total liabilities and equity $ 163,874 38.602 $ 112,783 $ 136, 129 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 25 Sales % % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % %