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 $437,709 $335,321 $232,700 Cost of goods sold 263, 5e1 211.588 148,928 Gross profit 174,288 123,733 83,772 Selling expenses 62, 155 46,274 30,716 Administrative 39,394 expenses 29,508 19,314 Total expenses 101.549 75, 782 50.030 Income before taxes 72,659 47,951 33,742 Income tax expense 13,515 9.830 6.85e Net income $ 59,144 $ 38,121 $ 26,892 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 60,748 $ 40,659 $ 54,352 Long-term investments e 600 4,360 Plant assets, net 112,819 182,922 60 742 Total assets $173,567 $144,181 $119,454 Liabilities and Equity Current liabilities $ 25,341 $ 21,483 $ 20,984 Common stock 72.00 72.000 54.ee Other paid-in capital 9,000 9,000 6,000 Retained earnings 67,226 41,698 38,550 Total liabilities and equity $173,567 $144,181 $119,454 2. Complete the below table to calculate income statement data in common size percent. Round your percentage answers to 2 decimal places.) Answer is complete but not entirely correct. 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 % Cost of goods 437.709.00 335,321.00 sold 232,700.00% Gross pro (437 609.00) (335,221.00) (232.500.00) Selling 62.155.00 46.274.00% expenses 30.718.01 Administrative 39,394.00% expenses 29,508.00X 19,314.003 Total expenses 101,549.00 75.782.00 50,030.00 Income before taxes 72.659.00 47,951.003 33.742.0083 Income tax expense 13,515.00% 9,830.00% 6.850.00