Selected comparative financial statements of Korbin Company follow

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 $ 508,058 $ 389,214 $ 270,100 Cost of goods sold 305,851 244,037 172,864 Gross profit 202,207 145,177 97,236 Selling expenses 72,144 53, 712 35,653 Administrative expenses 45,725 34,251 22,418 Total expenses 117,869 87,963 58,071 Income before taxes 84,338 57,214 39,165 Income taxes 15,687 11,729 7,950 Net income $ 68,651 $ 45,485 $ 31,215 2015 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 Assets Current assets $ 51,218 $ 40,072 Long-term investments 0 700 Plant assets, net 93, 671 99,921 Total assets $ 144,889 $ 140,693 Liabilities and Equity Current liabilities $ 21,154 $ 20,963 Common stock 67,000 67,000 Other paid-in capital 8,375 8,375 Retained earnings 48,360 44, 355 Total liabilities and equity $ 144,889 $ 140,693 $ 53,567 4,570 58,427 $ 116,564 $ 20,399 49,000 5,444 41,721 $116,564 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 % % % 3. Complete the below table to calculate the balance sheet data in trend percents with 2015 as the base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2017, 2016 and 2015 2017 2016 2015 Assets Current assets % % 100.00 % Long-term investments 100.00 Plant assets, net 100.00 Total assets 100.00 % Liabilities and Equity Current liabilities % 100.00 % Common stock 100.00 100.00 Other paid-in capital Retained earnings Total liabilities and equity 100.00 % % 100.00 %