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 $ 488,496 $ 374,228 $ 259,700 Cost of goods sold 294,075 237,635 166,208 Gross profit 194,421 136,593 93,492 Selling expenses 69,366 51, 643 34,280 Administrative expenses 43,965 32,932 21,555 Total expenses 113,331 84,575 55,835 Income before taxes 81,090 52,018 37,657 Income tax expense 15,083 10,664 7,644 Net income $ 66,007 41,354 $ 30,013 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 Assets Current assets $ 59,589 $ 39,883 Long-term investments 0 900 Plant assets, net 108,979 99,246 Total assets $ 168,568 $ 140,029 Liabilities and Equity Current liabilities $ 24,611 $ 20,864 Common stock 63,000 63,000 Other paid-in capital 7,875 7,875 Retained earnings 73,082 48,290 Total liabilities and equity $ 168,568 $ 140,029 $ 53,314 3,930 58, 770 $ 116,014 $ 20,302 45,000 5,000 45,712 $ 116,014 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 % % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % % %