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Required information [The following information applies to the questions displayed below. Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For
Required information [The following information applies to the questions displayed below. Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes $483,229 370,193 256,900 164,416 92,484 33,911 21, 323 55,234 37,250 7,562 $ 65,295 41,791 29,688 290,904 192,32!5 68,619 43,491 112,110 80,215 233,962 136,231 51,087 32,577 83,664 52,567 14,92010176 Net income
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