2 Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 Sales 2017. $378,457 2016 $289,929 2015 $201,200 Cost of goods sold, 227,831 183,525 128,768 2 of 3 Gross profit 150,626 106,404 72,432 Selling expenses 53,741 40,010 26,558 Administrative expenses 34,061 25,514 16,700 Total expenses 87,802 65,524 43,258 3 S Income before taxes 62,824 40,880 29,174 Income taxes Net income 11,685 8,380 5,922 $ 51,139 $ 32,500 $ 23,252 01:07:04 KORDIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Long-term investments Assets Current asseta Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock $51,788 0 96,179 $147,967 $40,518 500 102,663 $143,681 $ 54,163 4,930 $ 21,603 $ 21,408 72,000 Other paid-in capital 9,000 Retained earnings 45,364 41,273 Total liabilities and equity $147,967 $143,681 72,000 9,000 59,947 $119,040 $ 20,832 54,000 6,000 38,208 $119,040 2 Part 2 of 3 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 33.33 points KORBIN COMPANY Common-Dies Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income 2017 100.00% 2016 100.00% 2015 100.00%