Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales $ 524,799 $ 402,039 $ 279,000 Cost of goods sold 315,929 251,676 178,560 Gross profit 208,870 150,363 100, 440 Selling expenses 74,521 55,481 36,828 Administrative expenses 47,232 35, 379 23, 157 Total expenses 121,753 90,860 59,985 Income before taxes 87,117 59,503 40,455 Income taxes 16, 204 12,198 8,212 Net income $ 70,913 $ 47,305 $ 32,243 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets $ 53,694 $ 42,009 $ 56,156 Long-term investments 0 1,000 3,800 Plant assets, net 96,709 103,038 61,044 Total assets $ 150,403 $ 146,047 $ 121,000 Liabilities and Equity Current liabilities $ 21,959 $ 21,761 $ 21,175 Common stock 67,000 67,000 49,000 Other paid-in capital 8,375 8,375 5,444 Retained earnings 53,069 48,911 45,381 Total liabilities and equity $ 150,403 $ 146,047 $ 121,000 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, 2017, 2016, and 2015 2017 2016 2015 % % Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income % % %