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 $ 523,482 $ 401,030 $ 278,300 Cost of goods sold 315, 136 253,050 178, 112 Gross profit 208,346 147,980 100,188 Selling expenses 74,334 55,342 36,736 Administrative expenses 47,113 35,291 23,099 Total expenses 121,447 90,633 59,835 Income before taxes 86,899 57,347 40,353 Income tax expense 16,163 11,756 8,192 Net income $ 70,736 $ 45,591 $ 32,161 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 62,463 $ 41,807 $ 55,886 Long-term investments 0 600 4,160 Plant assets, net 117,805 107,341 64,020 Total assets $ 180, 268 $ 149,748 $ 124,066 Liabilities and Equity Current liabilities $ 26,319 $ 22,312 $ 21,712 Common stock 65,000 65,000 47,000 Other paid-in capital 8,125 8,125 5,222 Retained earnings 80, 824 54,311 50, 132 Total liabilities and equity $ 180, 268 $ 149,748 $ 124,066 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 100.00% 100.00% 100.00 % 64.00 36.00 Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % % %