[The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORDIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 434,323 $332,727 $230,900 Cost of goods sold 261,462 209,287147,776 Gross profit 172,861 124.440 8 3, 124 Selling expenses 61,674 45,916 30,479 Administrative expenses 39,089 29,280 19,165 Total expenses 100, 763 75, 1964 9.644 Income before taxes 72,098 49,244 33.480 Income tax expense 13,410 10,095 6,796 Net income $ 58,688 $ 39,149 $ 26,684 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 Assets Current assets $ 60,889 $ 40,753 Long-term investments 0 600 Plant assets, net 109,668 100,328 Total assets $ 170,557 $141,681 Liabilities and Equity Current liabilities $ 24,901 $ 21,110 Common stock 65,000 65,000 Other paid-in capital 8,125 8,125 Retained earnings 72,531 47.446 Total liabilities and equity $170,557 $141,681 $ 54,477 4,050 58,856 $117,383 $ 20,542 47.000 5,222 44,619 $117,383 -W171 Retained earnings Total liabilities and equity 172,531 $ 170,557 47.446 44,619 $141,681 $ 117,383 Problem 17-2A Part 2 2. Complete the below table to calculate income statement data in common-size percents. (Round y decimal places.) 2017 230,900.00 % KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 Sales 434,323.00% 332.727,00 % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2 3 4 of 4 !!! Next >