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 $539,095 $ 412,991 $286,600 Cost of goods sold 324,535 260, 184 183,424 Gross profit 214,560 152,807 103,176 Selling expenses 76,551 56,993 37,831 Administrative expenses 48,519 36, 343 23, 788 Total expenses 125,070 93,336 61,619 Income before taxes 89,490 59,471 41,557 Income tax expense 16,645 12, 191 8,436 Net income $ 72,845 $ 47,280 $ 33, 121 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 61,350 $ 41,062 $ 54,890 Long-term investments 0 1,100 3,900 Plant assets, net 115, 705 104,917 63,065 Total assets $ 177,055 $ 147,079 $121,855 Liabilities and Equity Current liabilities $ 25,850 $ 21,915 $ 21,325 Common stock 69,000 69,000 51,000 Other paid-in capital 8,625 8,625 5,667 Retained earnings 73,580 47,539 43,863 Total liabilities and equity $ 177,055 $ 147,079 $121,855 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 % % %