Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 Sales $ 442,035 $ 338,635 2019 $ 235,000 Cost of goods sold 266,105 214,695 150,400 Gross profit' 175,930 123,940 84,600 Selling expenses 62,769 46,732 31,020 Administrative expenses 39,783 29,800 19,505 Total expenses 102,552 76,532 50,525 Income before taxes 73,378 47,408 34,075 Income tax expense 13,648 9,719 6,917 Net income $ 59,730 $ 37,689 $ 27,158 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 Long-term investments Current liabilities Common stock Assets Current assets Plant assets, net Total assets Liabilities and Equity Other paid-in capital Retained earnings 112,695 $ 174,316 $ 144,804 $ 61,621 0 $ 41,243 800 102,761 2019 $ 55,132 3,580 61,258 $ 119,970 $ 25,450 72,000 $ 21,576 72,000 $ 20,995 9,000 9,000 54,000 6,000 67,866 42,228 38,975 Total liabilities and equity $174,316 $ 144,804 $ 119,970 Problem 17-2A (Algo) Part 2 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) Sales KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2021 % 2020 2019 % % % % % 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 2020 2019 Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings % % 100.00% 100.00 100.00 100.00 % % 100.00 % 100.00 100.00 100.00 Total liabilities and equity % % 100.00%