Question

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	$	385,229		$	295,117		$	204,800
Cost of goods sold		231,908			185,924			131,072
Gross profit		153,321			109,193			73,728
Selling expenses		54,703			40,726			27,034
Administrative expenses		34,671			25,970			16,998
Total expenses		89,374			66,696			44,032
Income before taxes		63,947			42,497			29,696
Income tax expense		11,894			8,712			6,028
Net income	$	52,053		$	33,785		$	23,668

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2019, 2018, and 2017
	2019			2018			2017
Assets
Current assets	$	54,371		$	36,391		$	48,646
Long-term investments		0			600			4,970
Plant assets, net		99,436			90,776			52,239
Total assets	$	153,807		$	127,767		$	105,855
Liabilities and Equity
Current liabilities	$	22,456		$	19,037		$	18,525
Common stock		63,000			63,000			45,000
Other paid-in capital		7,875			7,875			5,000
Retained earnings		60,476			37,855			37,330
Total liabilities and equity	$	153,807		$	127,767		$	105,855

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.)

Answer 1