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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 $434,323 $332,727 $230,900 Sales Cost of goods sold 261,462 Gross profit Selling expenses Administrative 209,951 122,776 147,776 83,124 172,861 61,674 45,916 30,479 39,089 29,280 19,165 expenses Total expenses Income before 100,763 75,196 49,644 72,098 47,580 33,480 taxes Income tax expense 13,410 9,754 6,796 $58,688 $ 37,826 26,684 Net income KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2018 2019 2017 Assets Current assets $59,182 39,611 52,950 1,000 101,271 Long-term investments Plant assets, net 4,740 59,859 111,617 $170,799 $141,882 $117,549 Total assets Liabilities and Equity Current liabilities 24,937 21,140 20,571 67,000 8,375 45,367 Common stock 67,000 8,375 49,000 5,444 Other paid-in capital Retained earnings 70,487 42,534 Total liabilities and $170,799 $141,882 $117,549 equity 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 100.00 % 100.00 %f 100.00% 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 Assets % 100.00 % 100.00 100.00 100.00% Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity |% 100.00 % 100.00 Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 100.00 100.00 100.00 %
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