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 $ 492,070 $376,966 $ 261,600 Cost of goods sold 296, 226 236, 358 167, 424 Gross profit 195, 844 140,608 94,176 Selling expenses 69,874 52,021 34,531 Administrative expenses 44,286 33, 173 21,713 Total expenses 114, 160 B5, 194 56,244 Income before taxes 81,684 55,414 37,932 Income tax expense 15,193 11,360 7,700 Net Income $ 66, 491 $ 44,054 $ 30,232 2017 $ 57,708 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 Assets Current assets $ 64,500 $ 43,170 Long-term investments 0 700 Plant assets, net 116, 172 106,213 Total assets $ 180, 672 $ 150,083 Liabilities and Equity Current liabilities $ 26, 378 $ 22, 362 Common stock 67,000 67,000 Other paid-in capital 8,375 8,375 Retained earnings 78,919 52, 346 Total liabilities and equity $180, 672 $ 150,083 62, 196 $ 124,344 $ 21,760 49,000 5, 444 48,140 $ 124,344 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 % % %