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 $ 384,100 $ 294,252 $ 204,200 Cost of goods sold 291,228 184.496 130, 688 Gross profit 152,872 109,756 73,512 Selling expenses 54,542 40,607 26,954 Administrative expenses 34,569 25,894 16,949 Total expenses 89,111 66,501 43,903 Income before taxes 63,761 43,255 29,609 Income tax expense 11,860 8,867 6,011 Net income $ 51,901 $ 34,388 5 23,598 2012 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 Assets Current assets $ 59,812 $ 40,033 Long-term investments 1,000 Plant assets, net 107229 98.143 Total assets $167,541 5 139,176 Liabilities and Equity Current liabilities $ 24,461 $ 20,737 Common stock 66,000 66,000 other paid in capital 3,250 8,250 Retained earnings 44,189 Total Habilities and equity $ 167,541 $ 139.176 $ 53,514 3,300 58,493 $ 115,307 20.129 48,000 5,333 41.795 $ 115,302 2019 2018 2017 $ 59,812 Assets Current assets Long-term investments plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid in capital Retained earnings Total liabilities and equity 107, 229 $ 167,541 $ 40,033 $ 53,514 1,000 3,300 98, 143 58.492 $ 139,176 $ 115,307 $ 24,461 $ 20,737 $ 20,179 66,000 66,00 40.000 8,250 8,250 5,333 68,830 46 189 41,795 $ 167,541 $ 139,176 5 115,307 2. Complete the below table to calculate income statement data in common-size percents (Round your percentage answers to 2 decimal places.) 2017 10000% KORBIN COMPANY Common Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2010 Sales % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income %