Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales $ 412,503 $ 316,011 $ 219,300 Cost of goods sold 248,327 197,823 140,352 Gross profit 164,176 118,188 78,948 Selling expenses 58,575 43,610 28,948 Administrative expenses 37, 125 27,809 18, 202 Total expenses 95,700 71,419 47,150 Income before taxes 68, 476 46,769 31,798 Income taxes 12,737 9,588 9,588 6,455 Net income $ 55,739 $ 37,181 $ 25, 343 KO 2015 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 Assets Current assets $ 53,550 $ 41,896 Long-term investments 0 900 Plant assets, net 97,936 104,302 Total assets $ 151,486 $ 147,098 Liabilities and Equity Current liabilities $ 22,117 $ 21,918 Common stock 72,000 72,000 Other paid-in capital 9,000 9,000 Retained earnings 48,369 44,180 Total liabilities and equity $ 151,486 $ 147,098 $ 56,006 3,740 62,125 $ 121,871 $ 21,327 54,000 6,000 40,544 $ 121,871 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income %