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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

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 $ 515,770 $ 395,122 $ 274,200
Cost of goods sold 310,494 248,927 175,488
Gross profit 205,276 146,195 98,712
Selling expenses 73,239 54,527 36,194
Administrative expenses 46,419 34,771 22,759
Total expenses 119,658 89,298 58,953
Income before taxes 85,618 56,897 39,759
Income tax expense 15,925 11,664 8,071
Net income $ 69,693 $ 45,233 $ 31,688

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2019, 2018, and 2017
2019 2018 2017
Assets
Current assets $ 54,638 $ 36,570 $ 48,885
Long-term investments 0 800 3,250
Plant assets, net 99,926 91,026 54,241
Total assets $ 154,564 $ 128,396 $ 106,376
Liabilities and Equity
Current liabilities $ 22,566 $ 19,131 $ 18,616
Common stock 70,000 70,000 52,000
Other paid-in capital 8,750 8,750 5,778
Retained earnings 53,248 30,515 29,982
Total liabilities and equity $ 154,564 $ 128,396 $ 106,376

3. Complete the below table to calculate the balance sheet data in trend percents with 2017 as base year. (Round your percentage answers to 2 decimal places.)

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