Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 2021 2020 2019 Sales $ 542,480 $ 415,584 $ 288,400 Cost of goods sold 326,573 263,065 184,576 Gross profit 215,907 152,519 103,824 Selling expenses 77,032 57,351 38,069 Administrative expenses 48,823 36,571 23,937 Total expenses 125,855 93,922 62,006 Income before taxes 90,052 58,597 41,818 Income tax expense 16,750 12,012 8,489 Net income $ 73, 302 $ 46,585 $ 33, 329 2019 KORBIN COMPANY Comparative Balance Sheets December 31, 2021, 2020, and 2019 2021 2020 Assets Current assets $ 58,625 $ 39,238 Long-term investments 0 1,100 Plant assets, net 110,568 100,210 Total assets $ 169,193 $ 140,548 Liabilities and Equity Current liabilities $ 24,702 $ 20,942 Common stock 70,000 70,000 Other paid-in capital 8,750 8,750 Retained earnings 65,741 40,856 Total liabilities and equity $ 169,193 $ 140,548 $ 52,452 3,010 60,982 $ 116, 444 $ 20,378 52,000 5,778 38,288 $ 116, 444 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 2019 % 10 KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 2021 2020 Sales % % 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 2019 as base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percent December 31, 2021, 2020 and 2019 2021 2020 2010 % 100,00 % 100.00 100.000 100.00 % Assets Current assets Long-term investments Plant assets, not Total assets Liabilities and Equity Current liabilities Common stock Other paid in capital Retained earnings Totalities and equity % 100.00 100.00 100.00 100.00 100.00 %