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Help with Accounting 2 please KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2015, 2014, and 2013 2015 2014 2013 395,574 303,042 210,300
Help with Accounting 2 please
KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2015, 2014, and 2013 2015 2014 2013 395,574 303,042 210,300 134,592 Sales 238136 157,438 35,602 Cost of goods sold 191,220 111,822 41,820 26,668 Gross profit 75,708 27,760 17,455 Selling expenses 56,172 Administrative expenses Total expenses Income before taxes 91,774 68,488 45,215 30,493 6,190 65,664 43,334 Income taxes 12,214 8,884 Net income $53,450 34,450 24,303 KORBIN COMPANY Comparative Balance Sheets December 31, 2015, 2014, and 2013 2015 2014 2013 Assets Current assets Long-term investments Plant assets, net $ 50,897 39,821 53,231 3,680 62,468 0 97,491 800 103,469 Total assets $148,388 144,090119,379 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings $ 21,665 21,469 71,000 8,875 42,746 71,000 8,875 46,848 20,891 53,000 5,889 39,599 Total liabilities and equity $148,388 144,090119,379Step by Step Solution
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