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 $ 492,446 $ 377,254 $ 261,800 Cost of goods sold 296,452 239,556 167,552 Gross profit 195,994 137,698 94,248 Selling expenses 69,927 52,061 34,558 Administrative expenses 44,320 33,198 21,729 Total expenses 114,247 85,259 56,287 Income before taxes 81,747 52,439 37,961 Income tax expense 15,205 10,750 7,706 Net income $ 66,542 $ 41,689 $ 30,255 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 60,579 $ 40,546 $ 54,200 Long-term investments 0 700 3,630 Plant assets, net 109,111 99,715 58,956 Total assets $ 169,690 $ 140,961 $ 116,786 Liabilities and Equity Current liabilities $ 24,775 $ 21,003 $ 20,438 Common stock 66,000 66,000 48,000 Other paid-in capital 8,250 8,250 5,333 Retained earnings 70,665 45,708 43,015 Total liabilities and equity $ 169,690 $ 140,961 $ 116,786 2. Complete the below table to calculate income statement data in common-size percents.
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Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Incom...
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