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 $ 420,592 $ 322,208 $223,600 Cost of goods sold 253, 196 202 669 143, 104 Gross profit 167,396 119,539 80,496 Sellingt expenses 59,724 44,465 29,515 Administrative expenses 37.853 28,354 18,559 Total expenses 97,577 72,819 48,074 Income before taxes 69,819 46, 720 32,422 Income tax expense 12,986 9.578 6,582 Net Income $ 56,833 $ 37,142 $ 25,64 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018 and 2017 2019 2018 2017 Assets Current assets $ 61,667 $ 41,234 $ 55,120 Long term investments 0 500 4,150 Plant assets, net 116, 191 105,962 63,096 Total assets $ 177,798 $ 147,696 5. 122, 366 Liabilities and Equity Current liabilities 5 25,959 $ 22,007 $ 21,414 Common stock 71.000 71.000 53.000 2018 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 Assets Current assets $ 61,607 Long-term investments 0 Plant assets, net 116, 191 Total assets $ 177,798 Liabilities and Equity Current liabilities $ 25,959 Common stock 71,000 Other paid in capital 8,875 Retained earnings 21,964 Total Habilities and equity $ 177,798 $ 41,234 500 105,962 $ 147,696 $ 55,120 4,150 63,096 $122,366 $ 22,007 $ 21,414 71,000 53,000 8,875 45,814 42.063 $ 147,696 $ 122,366 5,889 3. Complete the below table to calculate the balance sheet data in trend percents with 2017 as base year (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 2018 2017 Assets Current assets 96 % 100.00 % 100.00 Long-term investments KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 2018 2017 Assets % % 100.00 % 100.00 Current assets Long-term investments Plant assets, net Total assets 100.00 100.00 % % % Liabilities and Equity Current liabilities Common stock % 100.00 % 100.00 100.00 Other paid-in capital Retained earnings Total liabilities and equity 100 00 100.00 %