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 $ 468,369 $ 358,809 $ 249,000 Cost of goods sold 281,958 224,256 159, 360 Gross profit 186,411 134,553 89,640 Selling expenses 66,508 49,516 32,868 Administrative expenses 42,153 31,575 20,667 Total expenses 108,661 81,091 53,535 Income before taxes 77,750 53, 462 36,105 Income tax expense 14,462 10,960 7,329 Net income $ 63, 288 $ 42,502 $ 28,776 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 Assets Current assets $ 54,868 $ 36,723 Long-term investments 0 1,000 Plant assets, net 103,481 93,817 Total assets $ 158, 349 $ 131,540 Liabilities and Equity Current liabilities $ 23,119 $ 19,599 Common stock 65,000 65,000 Other paid-in capital 8,125 8, 125 Retained earnings 62,105 38,816 Total liabilities and equity $ 158, 349 $ 131,540 $ 49,090 3,060 56,831 $ 108,981 $ 19,072 47,000 5, 222 37,687 $ 108,981 13,872 19 mework i Saved Help Save & E: Chec 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 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 % %