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 $ 541,916 $ 415,152 $ 288, 100 Cost of goods sold 326,233 259,885 1.84,384 Gross profit 215,683 155, 267 103, 716 Selling expenses 76,952 57291 38,029 Administrative expenses 48,772 36,533 23,912 Total expenses 125, 724 93 824 61 941 Income before taxes 89,959 61, 443 41,775 Income tax expense 16,732 12, 596 8,480 Net income $ 73,227 $ 48,847 S 33,295 2017 KORDIN COMPANY Comparative Balance Sheets December 31, 2019, 2018 and 2017 2019 2018 Assets Current assets $63,223 $ 42,316 Long-term investments 0 700 Plant assets, net 117 415 107,039 Total assets $ 180, 638 $ 150,055 Liabilities and Equity Current liabilities $ 26,373 $ 22, 358 Common stock 71000 71000 Other paid-in capital 8,875 8,875 Retained earnings 74,390 47,822 S 56,566 3,540 64,215 $ 124,321 S21, 756 53,000 5,889 43,676 12,596 Income tax expense 16,732 $ 73,227 8,480 $ 33,295 48,847 Net income 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 Assets Current assets $ 63,223 $ 42,316 Long-term investments 0 700 plant assets, net 117,415 107,039 Total assets $ 180, 638 $ 150,055 $ 56,566 3,540 64,215 $ 124,321 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 26,373 $ 22,358 71,000 71,000 8,875 8,875 74,390 47,822 $ 180,638 $ 150,055 $ 21,756 53,000 5,889 43,676 $ 124,321 2. Complete the below table to calculate income statement data in common-size percents. (Ro decimal places.) #O NG LALUGU SOL LLY 044 $ 150,055 $ 180,638 $ 1: Total liabilities and equity 2. Complete the below table to calculate income statement data in common-size 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 % % %