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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

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 $455,202 $348,722 $242,000
Cost of goods sold 274,032 218,997 154,880
Gross profit 181,170 129,725 87,120
Selling expenses 64,639 48,124 31,944
Administrative expenses 40,968 30,688 20,086
Total expenses 105,607 78,812 52,030
Income before taxes 75,563 50,913 35,090
Income taxes 14,055 10,437 7,123
Net income $61,508 $40,476 $27,967

KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015
2017 2016 2015
Assets
Current assets $52,781 $41,294 $55,201
Long-term investments 0 500 4,270
Plant assets, net 98,021 104,640 61,850
Total assets $150,802 $146,434 $121,321
Liabilities and Equity
Current liabilities $22,017 $21,819

$21,231

Common stock 66,000 66,000 48,000
Other paid-in capital 8,250 8,250 5,333
Retained earnings 54,535 50,365 46,757
Total liabilities and equity $150,802 $146,434 $121,321

2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.)

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