The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow.

KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31
	2021	2020	2019
Sales	$ 388,427	$ 297,567	$ 206,500
Cost of goods sold	233,833	185,979	132,160
Gross profit	154,594	111,588	74,340
Selling expenses	55,157	41,064	27,258
Administrative expenses	34,958	26,186	17,140
Total expenses	90,115	67,250	44,398
Income before taxes	64,479	44,338	29,942
Income tax expense	11,993	9,089	6,078
Net income	$ 52,486	$ 35,249	$ 23,864

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, 2021, 2020, and 2019
	2021		2020		2019
Sales		%		%		%
Cost of goods sold		-1		-1		-1
Gross profit
Selling expenses		-1		-1		-1
Administrative expenses		-1		-1		-1
Total expenses
Income before taxes		-1		-1		-1
Income tax expense		-1		-1		-1
Net income		%		%		%

KORBIN COMPANY
Comparative Balance Sheets
December 31
	2021	2020	2019
Assets
Current assets	$ 56,854	$ 38,053	$ 50,868
Long-term investments	0	1,000	3,360
Plant assets, net	103,979	94,550	56,462
Total assets	$ 160,833	$ 133,603	$ 110,690
Liabilities and Equity
Current liabilities	$ 23,482	$ 19,907	$ 19,371
Common stock	68,000	68,000	50,000
Other paid-in capital	8,500	8,500	5,556
Retained earnings	60,851	37,196	35,763
Total liabilities and equity	$ 160,833	$ 133,603	$ 110,690