KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 2019 Sales $ 484,734 $ 371,346 $ 257,700 Cost of goods sold 291,810 234,691 164,928 Gross profit 192,924 136,655 92,772 Selling expenses 68,832 51,246 34,016 Administrative expenses 43,626 32,678 21,389 Total expenses 112,458 83,924 55,405 Income before taxes 80,466 52,731 37,367 Income tax expense 14,967 10,810 7,586 Net income $ 65,499 $ 41,921 $ 29,781 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 2019 Assets Current assets $ 58,134 $ 38,910 $ 52,013 Long-term investments 0 500 3,660 Plant assets, net 107,964 98,567 58,641 Total assets $ 166,098 $ 137,977 $ 114,314 Liabilities and Equity Current liabilities $ 24,250 $ 20,559 $ 20,005 Common stock 71,000 71,000 53,000 Other paid-in capital 8,875 8,875 5,889 Retained earnings 61,973 37,543 35,420 Total liabilities and equity $ 166,098 $ 137,977 $ 114,314