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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 $ 556,400 $ 426,248 $ 295,800
Cost of goods sold 334,953 267,684 189,312
Gross profit 221,447 158,564 106,488
Selling expenses 79,009 58,822 39,046
Administrative expenses 50,076 37,510 24,551
Total expenses 129,085 96,332 63,597
Income before taxes 92,362 62,232 42,891
Income tax expense 17,179 12,758 8,707
Net income $ 75,183 $ 49,474 $ 34,184

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2019, 2018, and 2017
2019 2018 2017
Assets
Current assets $ 60,906 $ 40,764 $ 54,493
Long-term investments 0 1,100 3,640
Plant assets, net 116,662 105,641 64,075
Total assets $ 177,568 $ 147,505 $ 122,208
Liabilities and Equity
Current liabilities $ 25,925 $ 21,978 $ 21,386
Common stock 64,000 64,000 46,000
Other paid-in capital 8,000 8,000 5,111
Retained earnings 79,643 53,527 49,711
Total liabilities and equity $ 177,568 $ 147,505 $ 122,208

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.)

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