Selected comparative financial statements of Korbin Company follow: 2 2 of 3 KORDIN COMPANY Comparative Income Statements For Year Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales $ 378,457 $ 289,929 $ 201,200 Coat of goods sold 227,831 183,525 128, 768 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 Income before taxes 62,824 40,880 29,174 Income taxen 11,685 8,380 5,922 Net Income $ 51,139 $ 32,500 $ 23, 252 3 s 01:07:04 2015 KORDIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 Asseto Current assets $ 51,700 $ 40,518 Long-term inventments 500 plant assets, net 96,179 102,663 Total as sota $147,967 5143,681 Liabilities and Equity Current liabilities $ 21,603 $ 21, 408 Common stock 72,000 72,000 Other paid-in capital 9.000 9.000 Retained earnings 45,364 41,273 Total liabilities and equity $147,967 $143,681 $ 54,163 4.930 59,947 $ 119,040 $ 20,832 54,000 6.000 38,208 $ 119,040 2 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) Part 2 of 3 33 33 points 2011 100.00% 80 KOAN COMPANY Comment comparative Income rements For Year Ended December 31, 2017, 2016 and 2010 2016 Sales 100.00 % 100.001% Cost of goods sold Gross profit Seling expenses Administrative expenses Total expenses Income before Income taxes Net income X