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Required information [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, 2017, 2016, and 2015 2017 2016 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income $ 399,524 306,068 $ 212,400 135.936 76,464 28,037 17.629 45,666 30,798 6,252 $ 53,986 $35,525 $ 24,546 192.211 113,85'7 42,237 26,934 69,171 44,686 9,161 240,513 159,011 56,732 35,957 92,689 66,322 12,336 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets Long-term investment:s Plant assets, net $ 53,297 41,698 $ 55,741 3,510 60,854 $ 149,291 $144,967120,105 500 102,769 95,994 Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings $ 21,796 $ 21,600 21,018 48,000 5,333 45,754 $ 149,291 $144,967120,105 66,000 8,250 53,245 66,000 8,250 49,117 Total liabilities and equity 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, 2017, 2016, and 2015 2017 2016 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income

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