Required information The following information applies to the questions displayed below.J 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 $411,751 $315,435 $218,900 140,096 78,804 28,895 18,169 47,064 31,740 6,443 $ 55,637 36,362 $ 25,297 247,874 163,877 58,469 37,058 95,527 68,350 12,713 198,409 117,026 43,530 27,758 71,288 45,738 9,376 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets Long-term investments Plant assets, net Total assets $ 47,809 37,405 50,002 4,710 55,182 $ 136,598 $132,642 $ 109,894 1,000 94,237 88,789 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 19,943 19,764 $ 19,231 53,000 5,889 31,774 $ 136,598 $132,642 109,894 71,000 8,875 36,780 71,000 8,875 33,003 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 2017 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income