rk Saved Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 399,524 $ 306,068 $ 212,400 Cost of goods sold 240,513 191,905 135,936 Gross profit 159, 011 114,163 76,464 Selling expenses 56,732 42,237 28,037 Administrative expenses 35,957 26,934 17,629 Total expenses 92,689 69,171 45,666 Income before taxes 66,322 44,992 30,798 Income tax expense 12,336 9,223 6,252 Net income $ 53,986 $ 35,769 $ 24,546 2018 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 Assets Current assets $ 54,994 Long-term investments Plant assets, net 102,131 Total assets $ 157,125 Liabilities and Equity Current liabilities $ 22,940 Common stock 68,000 Other paid-in capital 8,500 Retained earnings 57,685 Total liabilities and equity $ 157, 125 $ 36,807 600 93,116 $ 130,523 $ 49,203 4,630 54,305 $ 108, 138 $ 19,448 68,000 8,500 34,575 $ 130,523 $ 18,924 50,000 5,556 33,658 $ 108, 138 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, 2019, 2018, and 2017 2019 2018 2017 Sales % % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % % %