KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2015, 2014, and 2013 2013 2014 206,198 119,036 2015 $424,542 255,574 Sales $325,234 225,700 Cost of goods sold 144,448 Gross profit Selling expenses Administrative expenses 168,968 60,285 38,209 81,252 29,792 18,733 44,882 28,621 Total expenses 98,494 73,503 48,525 Income before taxes Income taxes 70,474 13,108 45,533 32,727 6,644 9,334 Net income $ 57,366 $ 36,199 26,083