RCES CORBIN COMPANY Income Statement For the Years Ended December 31 2017 2016 Net sales (all on account) Expenses 599,000 $519,000 Cost of goods sold Selling and administrative Interest expense Income tax expense 414,000 119,000 7,000 17,000 557,000 42,000 353,000 113,000 5,000 13,000 484,000 $ 35,000 Total expenses Net income CORBIN COMPANY ber 31 v StudvAssets 2017 2016 Current assets Cash Short-term investments Accounts recelvable (net) Inventory s 20,000$ 17,000 14,000 73,000 59.000 173,000 17,000 85,000 89,000 211,000 Total current assets