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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

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 $ 479,843 $ 367,599 $ 255,100
Cost of goods sold 288,865 230,117 163,264
Gross profit 190,978 137,482 91,836
Selling expenses 68,138 50,729 33,673
Administrative expenses 43,186 32,349 21,173
Total expenses 111,324 83,078 54,846
Income before taxes 79,654 54,404 36,990
Income tax expense 14,816 11,153 7,509
Net income $ 64,838 $ 43,251 $ 29,481

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2019, 2018, and 2017
2019 2018 2017
Assets
Current assets $ 54,825 $ 36,695 $ 49,052
Long-term investments 0 1,100 4,700
Plant assets, net 98,747 89,776 51,941
Total assets $ 153,572 $ 127,571 $ 105,693
Liabilities and Equity
Current liabilities $ 22,422 $ 19,008 $ 18,496
Common stock 67,000 67,000 49,000
Other paid-in capital 8,375 8,375 5,444
Retained earnings 55,775 33,188 32,753
Total liabilities and equity $ 153,572 $ 127,571 $ 105,693

2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.)

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