KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 $ 410,622 $ 314,570 2019 $ 218,300 139,712 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 247,194 197,865 163,428 116,705 78,588 58,308 43,411 28,816 36,956 27,682 18,119 95,264 71,093 46,935 68,164 45,612 31,653 12,679 9,351 6,426 $ 55,485 $ 36,261 $ 25,227 KORBIN COMPANY Comparative Balance Sheets December 31 Assets Current assets Long-term investments Plant assets, net Current liabilities Total assets Liabilities and Equity Common stock $ 173,347 $ 143,999 Other paid-in capital Retained earnings $ 25,309 63,000 7,875 77,163 Total liabilities and equity $ 173,347 $ 143,999 2021 $ 60,065 0 113,282 2020 $ 40,202 400 103,397 $ 21,456 63,000 7,875 51,668 2019 $ 53,740 3,630 61,933 $ 119,303 $ 20,878 45,000 5,000 48,425 $ 119,303