KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2017 $ 283,400 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2019 $ 533,075 2018 $ 408,379 320,911 258,912 181,376 212,164 149,467 102,024 75,697 56,356 37,409 47,977 35,937 23,522 123,674 92,293 60,931 88,490 57,174 41,093 16,459 11,721 8,342 $ 72,031 $ 45,453 $ 32,751 KORBIN COMPANY Comparative Balance Sheets. December 31, 2019, 2018, and 2017 2019 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 2018 2017 $ 61,263 0 $ 41,004 1,000 106,366 $ 54,812 3,760 64,353 117,347 $ 178,610 $ 148,370 $ 122,925 $ 26,077 71,000 $ 22,107 $ 21,512 8,875 72,658 71,000 8,875 46,388 $ 178,610 $ 148,370 53,000 5,889 42,524 $ 122,925 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 KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 % 2018 2017 100.00% 100.00 100.00 100.00 % % % 100.00 % 100.00 100.00 100.00 % 100.00 %