KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 Sales $ 543,421 $ 416,305 Cost of goods sold 327, 139 261, 440 Gross profit 216, 282 154,865 Selling expenses 77,166 57, 450 Administrative expenses 48, 908 36,635 Total expenses 126,074 94,085 Income before taxes 90, 208 60, 780 Income tax expense 16,779 12, 460 Net income $ 73,429 $ 48,320 2019 $ 288, 900 184,896 104,004 38, 135 23,979 62, 114 41, 890 8,504 $ 33, 386 2019 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 Assets Current assets $ 61,954 $ 41, 466 Long-term investments 0 500 Plant assets, net 113, 305 103,621 Total assets $ 175, 259 $ 145,587 Liabilities and Equity Current liabilities $ 25, 588 $ 21,692 Common stock 65,000 65,000 Other paid-in capital 8,125 8,125 Retained earnings 76,546 50,770 Total liabilities and equity $ 175, 259 $ 145,587 $ 55, 430 4,260 60,929 $ 120, 619 $ 21, 108 47,000 5, 222 47,289 $ 120, 619 KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2021, 2020 and 2019 2021 2020 2019 % % 100.00 % 100.00 100.00 100.00 % % % Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity % % 100.00 % 100.00 100.00 100.00 100.00 % % %