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 $ 397,455 $ 304,483 $ 211,300 Cost of goods sold 239,268 191,824 135, 232 Gross profit 158,187 112,659 76,068 Selling expenses 56,439 42,019 27,892 Administrative expenses 35, 771 26,795 17,538 Total expenses 92,210 68,814 45, 430 Income before taxes 65,977 43,845 30,638 Income tax expense 12,272 8,988 6,220 Net income $ 53,705 $ 34,857 $ 24,418 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 60,212 $ 40,300 $ 53,871 Long-term investments 0 6004 ,810 plant assets, net 115,332 104,924 62,134 Total assets $ 175,544 $145, 824 $ 120,815 Liabilities and Equity Current liabilities $ 25,629 $ 21,728 $ 21,143 Common stock 70,000 70,000 52,000 Other paid-in capital 8,750 8,750 5,778 Retained earnings 71,165 45,346 41,894 Total liabilities and equity $ 175,544 $145, 824 $ 120,815 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 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 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 % % 100.00 % 100.00 100.00 100.00 % L % % Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity % % 100.00 % 100.00 100.00 100.00 100.00 % % %