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 $ 480,972 $ 368,464 $ 255,700 Cost of goods sold 289,545 231,764 163,648 Gross profit 191,427 136,700 92,052 Selling expenses 68,298 50,848 33,752 Administrative expenses 43,287 32,425 21,223 Total expenses 111,585 83,273 54,975 Income before taxes 79,842 53,427 37,077 Income tax expense 14,851 10,953 7,527 Net income $ 64,991 $ 42,474 $ 29,550 2018 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 Assets Current assets $ 53,641 Long-term investments 0 plant assets, net 101,167 Total assets $ 154,808 Liabilities and Equity Current liabilities $ 22,602 Common stock 65,000 other paid-in capital 8,125 Retained earnings 59,081 Total liabilities and equity $ 154,808 $ 35,902 900 91,797 $ 128,599 $ 47,993 4,850 53,701 $ 106,544 $ 19,161 65,000 8,125 36,313 $ 128,599 $ 18,645 47,000 5,222 35,677 $ 106,544 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, 2019, 2018, and 2017 2019 2018 2017 Sales % % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % % %