! Required information Problem 13-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 [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 $389,070 246,281 142,789 $270,000 172,800 97,200 Sales $507,870 305,738 Cost of goods sold Gross profit Selling expenses 202,132 72,118 45,708 117,826 84,306 53,692 34,238 35,640 22,410 Administrative expenses Total expenses Income before taxes 87,930 58,050 54,859 11,246 39,150 15,681 7,947 Income taxes $ 43,613 68,625 $ 31,203 Net income KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets $ 36,702 1,000 $ 49,062 $46,911 Current assets Long-term investments Plant assets, net C 4,480 53,220 85,794 91,160 $132,705 $128,862 $106,762 Total assets Liabilities and Equity $ 18,683 19,375 67,000 19,200 67, 0 8,375 34,287 Current liabilities Common stock 49,000 5,444 33,635 Other paid-in capital Retained earnings 8,375 37,955 $132,705 $128,862 $106,762 Total liabilities and equity int Problem 13-2A Part 2 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 2015 2017 2016 Sales 100.00 % 100.00 % 100.00 % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes % Net income