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 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2019 2018 2017 % % % % % [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, 2019, 2018, and 2017 2019 2018 2017 Sales $529,690 $405,786 $281,600 Cost of goods sold 318,873 254,022 180,224 Gross profit 210,817 151,764 101,376 Selling expenses 75,216 55,998 37,171 Administrative expenses 47,672 35,709 23,373 Total expenses 122,888 91,707 60,544 Income before taxes. 87,929 60,057 40,832 Income tax expense 16,355 12,312 8,289 Net income $ 71,574 $ 47,745 $ 32,543 Assets Current assets KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 $ 57,433 $ 38,440 Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities 0 110,011 2018 2017 $51,386 1,000 99,655 4,550 59,304 $167,444 $139,095 $115,240 $ 24,447 $20,725 $ 20,167