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 $ 550,004 $ 421,348 $ 292,400 Cost of goods sold 331, 102 264,607 187,136 Gross profit 218,902 156,741 105,264 Selling expenses 78,101 58,146 38,597 Administrative expenses 49,500 37,079 24,269 Total expenses 127,601 95,225 62,866 Income before taxes 91,301 61,516 42,398 Income tax expense 16,982 12,611 8,607 Net income $ 74,319 $ 48,905 $ 33,791 2018 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 Assets Current assets $ 55,406 Long-term investments Plant assets, net 104,495 Total assets $ 159,901 Liabilities and Equity Current liabilities $ 23,346 Common stock 65,000 Other paid-in capital 8,125 Retained earnings 63,430 Total liabilities and equity $ 159,901 $ 37,083 800 94,946 $ 132,829 $ 49,572 4,830 55,647 $ 110,049 $ 19,792 65,000 8,125 39,912 $ 132,829 $ 19,259 47,000 5,222 38,568 $ 110,049 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 2017 100.00% KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 Sales 100.00 % 100.00 % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % % 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.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 2018 2017 Assets Current assets % % 100.00% Long-term investments 100.00 Plant assets, net 100.00 100.00 % Total assets % % 100,00 % 100.00 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 100.00 100.00 100,00 %