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 $ 551,885 $ 422,789 $293,400 Cost of goods sold 332, 235 268,048 187,776 Gross profit 219,650 154,741 105,624 Selling expenses 78,368 58,345 38,729 Administrative expenses 49,670 37,205 24,352 Total expenses 128,038 95,550 63,081 Income before taxes 91,612 59,191 42,543 Income taxes 17,040 12,134 8,636 Net income $ 74,572 $ 47,057 $ 33,907 2015 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 Assets Current assets $ 51,345 $ 40,171 Long-term investments 0 600 Plant assets, net 95,354 101,679 Total assets $ 146,699 $ 142,450 Liabilities and Equity Current liabilities $ 21,418 $ 21,225 Common stock 63,000 63,000 Other paid-in capital 7,8757 ,875 Retained earnings 54,406 50, 350 Total liabilities and equity $ 146,699 $ 142,450 $ 53,699 3,340 60,981 $ 118,020 $ 20,654 45,000 5,000 47,366 $ 118,020 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 2015 KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 Sales Cost of goods sold Gross profit Selling expenses i Administrative expenses Total expenses Income before taxes T Income taxes Net income % % % 3. Complete the below table to calculate the balance sheet data in trend percents with 2015 as the base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2017, 2016 and 2015 2017 2016 2015 % % 100.00 % 100.00 100.00 100.00 % % % Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings 100.00 % 100.00 100.00 100.00 100.00 % Total liabilities and equity % %