Comparative Income Statements For Years Ended December 31 2021 $ 381,091 2020 $291,947 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 229,417 182,759 2019 $ 202,600 129,664 151,674 109,188 72,936 54,115 40,289 26,743 34,298 25,691 16,816 88,413 65,980 43,559 63,261 43,208 29,377 11,767 8,858 5,964 $ 51,494 $ 34,350 $ 23,413 KORBIN COMPANY Comparative Balance Sheets December 31 Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital 2021 $ 63,879 e 115,054 $178,933 $ 26,124 65,000 6,125 79,684 2020 $ 42,754 1,200 104,684 $ 148,638 $ 22,147 65,000 8,125 53,366 2019 $ 57,153 4,590 61,404 $123,147 $ 21,551 47,000 5,222 49,374