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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 $ 385,229 $ 295,117 $ 204,800
Cost of goods sold 231,908 185,924 131,072
Gross profit 153,321 109,193 73,728
Selling expenses 54,703 40,726 27,034
Administrative expenses 34,671 25,970 16,998
Total expenses 89,374 66,696 44,032
Income before taxes 63,947 42,497 29,696
Income tax expense 11,894 8,712 6,028
Net income $ 52,053 $ 33,785 $ 23,668

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2019, 2018, and 2017
2019 2018 2017
Assets
Current assets $ 54,371 $ 36,391 $ 48,646
Long-term investments 0 600 4,970
Plant assets, net 99,436 90,776 52,239
Total assets $ 153,807 $ 127,767 $ 105,855
Liabilities and Equity
Current liabilities $ 22,456 $ 19,037 $ 18,525
Common stock 63,000 63,000 45,000
Other paid-in capital 7,875 7,875 5,000
Retained earnings 60,476 37,855 37,330
Total liabilities and equity $ 153,807 $ 127,767 $ 105,855

Problem 13-2A Part 2

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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