Required Information The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORSIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2012 Sales $ 383,724 5 293,964 $ 284, Cost of goods sold 231.002 185491 130, 560 Gross profit 152,722 188,473 73,440 Selling expenses 54,489 40,567 26,928 Administrative expenses 34,535 25,869 15,932 Total expenses 89,824 66 436 43,850 Income before taxes 63,698 42,037 29,580 Income tax expense 11,848 8,618 6,05 Net income $ 51,850 $ 33, 419 $ 23,575 2018 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 Assets Current assets $ 62,124 Long-term investments e plant assets, net 117, 165 Total assets $ 179,289 Liabilities and Equity Current liabilities $ 25,176 Common stock 68,000 Other paid-in capital 8.See Retained earnings 76,613 Total liabilities and equity $ 179,289 $ 41,579 70 186,655 $ 148,934 $ 55,582 4,760 63,ese $ 123,392 $ 22,191 68, 8, see se 243 $ 148,934 $ 21,594 Se, 5,556 46,242 $ 123,392 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 2017 KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018 and 2017 2019 2018 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income