$202120202019$

Sales $ $507,306$ $ $388,638$ $ $269,700$

Cost of goods sold $305,398244,842172,608$

Gross profit $201,908143,79697,092$

Selling expenses $72,03753,63235,600$

Administrative expenses $45,65834,20022,385$

Total expenses $117,69587,83257,985$

Income before taxes $84,21355,96439,107$

Income tax expense $15,66411,4737,939$

Net income $ $68,549$ $ $44,491$ $ $31,168$

KORBIN COMPANY

Comparative Balance Sheets

December $31$

$202120202019$

Assets

Current assets $ $58,835$ $ $39,378$ $ $52,640$

Long$-$term investments $08003,830$

Plant assets, net $110,963100,87260,390$

Total assets $ $169,798$ $ $141,050$ $ $116,860$

Liabilities and Equity

Current liabilities $ $24,791$ $ $21,016$ $ $20,451$

Common stock $65,00065,00047,000$

Other paid$-$in capital $8,1258,1255,222$

Retained earnings $71,88246,90944,187$

Total liabilities and equity $ $169,798$ $ $141,050$ $ $116,860$

$2.$ Complete the below table to calculate income statement data in common$-$size percents.

Note: Round your percentage answers to $2$ decimal places.