(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, 2018, 2017, and 2016 2018 2017 2016 Sales $517,087 $396,131 $274,900 Cost of goods sold 311, 286 251,543 175,936 Gross profit 205,801 144,588 98,964 Selling expenses 73,426 54,666 36, 287 Administrative expenses 46,538 34,860 22,817 Total expenses 119,964 89,526 59,104 Income before taxes 85,837 55,062 39,860 Income tax expense 15,966 11,288 8,092 Net income $ 69,871 $ 43, 774 $ 31,768 KORBIN COMPANY Comparative Balance Sheets December 31, 2018, 2017, and 2016 2018 2017 Assets Current assets $ 52,060 $ 40,731 Long-term investments 0 900 Plant assets, net 98,186 104,264 Total assets $ 150,246 $145,895 Liabilities and Equity Current liabilities $ 21,936 $ 21,738 Common stock 69,000 69,000 Other paid-in capital 8,625 8,625 Retained earnings 50,685 46,532 Total liabilities and equity $ 150,246 $ 145,895 2016 $ 54,448 3,690 62,736 $ 120,874 $ 21,153 51,000 5,667 43,054 $120,874 Total liabilities and equity $150,246 $145,895 $120,874 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) KORE IN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2018, 2017, and 2016 2018 2017 2016 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income