KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 391,248 $ 299,728 $ 208,000 Cost of goods sold 235,531 187,929 133,120 Gross profit 155, 717 111, 799 74,880 Selling expenses 55,557 41,362 27,456 Administrative expenses 35,212 26,376 17,264 Total expenses 90,269 67,738 44,720 Income before taxes 64,948 44,061 30,160 Income tax expense 12,080 9,032 6,122 Net income $ 52,868 $ 35,029 $ 24,038 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 Assets Current assets $ 57, 690 $ 38, 612 Long-term investments 0 400 plant assets, net 110,501 100/703 Total assets $ 168, 191 $ 139,715 Liabilities and Equity Current liabilities $ 24,556 $ 20.818 Common stock 63,000 63,000 other paid-in capital 7,875 7.875 Retained earnings 72,760 48,022 Total liabilities and equity $ 168, 191 $ 139,715 $ 51, 61 3,15 60,98 $ 115,75 $ 20,25 45,00 5,00 45, 49 $ 115,75 note the below table to calculate income statement data in common.size neree