Assignment Print View X -en 0 0 5 http://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintViewersingleQuestionNo=8.&postSu Sciected comparauve financial statements or Moron Company Tonow KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales $ 524,987 $ 402,183 279,100 Cost of goods sold 316.042 252.973 178,624 Gross profit 208,945 140.210 100,476 Selling expenses 74,548 55,501 36.841 Administrative expenses 47.249 35,392 23.165 Total expenses 121,797 90 893 60.006 income before taxes 87148 58,317 40 470 Income taxes 16,210 11.955 B,215 Net Income $ 70,938 46,362 $ 32 255 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets $ 52.680 S 41 216 55.090 Long-term investments 700 3740 Plant assets, net 90.355 105,716 63,477 Total assets $ 152 035 $ 147,632 122 313 Liabilities and Equity Current Babilives 22.197 21,997 21,405 Common stock 84,000 64,000 46,000 Other pold-in capital 8.000 8,000 5.171 BEB ZS 49797 Retained earnings 53.635 Total bablines and equity 5 152.035 5 147.632 5 122,313Assignment Print View X 1 0 A http://ezto.mheducation.com/hm.tpx?todo=c15SinglePrintViewBisingleQuestionNo=8.&pc 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answe KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales 100.00 % 100.00 % 100.00 % Cost of goods sold 60.20 64.00 Gross profit 39.80 36.00 Selling expenses 14.20 13.80 13.20 Administrative expenses 9.00 8.80 8.30 Total expenses + 23.20 22.60 21.50 Income before taxes 16.60 14.50 Income taxes 3.09 2.95 Net income 13 51 % 11.55 % References Expanded table Leaming Objective: 17-81Explain and apply methods of hobzontal adansis