Selected comparative nancial statements of Korbin Company follow: KORBIN COMPANY comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales $407,801 $312,409 $216,800 Cost of goods sold 245,496 195,880 138,752 Gross profit 162,305 116,529 78,048 Selling expenses 57,908 43,112 28,618 Administrative expenses 36,702 27,492 17,994 Total expenses 94,610 70,604 46,612 Income before taxes 67,695 45,925 31,436 Income taxes 12,591 9,415 6,382 Net income $ 55.104 $ 361510 $ 25:054 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets $ 52,639 $ 41,184 $ 55,053 Longterm investments 0 800 4,210 Plant assets, net 97,758 104,057 61,732 Total assets $150,397 $146,041 $120,995 Liabilities and Equity Current liabilities $ 21,958 $ 21,760 $ 21,174 Common stock 66,000 66,000 48,000 Other paidin capital 8,250 8,250 5,333 Retained earnings 54,189 50,031 46,488 Total liabilities and equity $150r397 $146,041 $120r995 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) Cost of goods sold Gross prot Selling expenses Administrative expenses Total expenses Income before taxes Income taxes I I I I I % Net income