KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 $ 523,482 315,136 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2020 $ 401,030 254,253 2019 $ 278,300 178,112 208,346 146,777 100,188 74,334 55,342 36,736 47,113 35,291 23,099 121,447 90,633 59,835 86,899 56,144 40,353 16,163 11,510 8,192 $ 70,736 $ 44,634 $ 32,161 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 Assets Current assets Long-term investments Plant assets, net $ 56,368 103,090 0 $ 37,728 600 94,133 Current liabilities Total assets Liabilities and Equity Common stock Other paid-in capital Retained earnings $ 159,458 $ 132,461 $ 23,281 66,000 8,250 61,927 Total liabilities and equity $ 159,458 $ 132,461 $ 19,737 66,000 8,250 38,474 2019 $ 50,433 4,950 54,361 $ 109,744 $ 19,205 48,000 5,333 37,206 $ 109,744