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, 2017, 2016, and 2015 2017 2016 2015 Sales $ 521,037 $ 399,157 $ 27,000 Cost of goods sola 313,664 251, 469 27,280 Gross profit 207, 373 147,688 99,720 Selling expenses 73,982 55,084 36,564 Administrative expenses 46,893 35,126 22,991 Total expenses 120,880 90,210 59,555 Income before taxes 86,493 57,478 40,165 Income taxes 16,088 11,783 8,153 Net Income $ 70,405 $ 45,695 $ 32,012 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets $ 46,516 $ 36,393 $ 48,649 Long-term investments 0 400 3,600 Plant assets, net 87,728 93,563 55,751 Total assets $ 134,244 $ 130,356 $ 100,000 Liabilities and Equity Current liabilities $ 19,600 $ 19,423 $ 18,900 Common stock 63,000 63,000 45,000 Other paid-in capital 7,875 7,875 5,000 Retained earnings 43, 769 40,058 39,100 Total liabilities and equity $ 134,244 $ 130,356 $ 108,000 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 2015 100 001% KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 Sales 100.00 % 100.00% Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes % % Net income %