KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income $ 403,663 $309,239 214,600 137,344 77,256 28,327 17,812 46,139 31,117 6,317 $ 54, 545 $ 34,418 24,800 243,005 160,658 57,320 36,330 93,650 67,008 12,463 196,058 113,181 42,675 27,213 69,888 43,293 8,875 KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets Current assets Long-term investments Plant assets, net Total assets $ 48,238 $ 37,740 50,450 3,260 58,289 $139,215 $135,183 111,999 700 96,743 90,977 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings $ 20,325 $20,142 19,600 52,000 5,778 34,621 $139,215 $135,183 111,999 70,000 8,750 40,140 70,000 8,750 36,291 Total liabilities and equity