Sales 2020 $ 396,327 KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2020, 2019, and 2018 2018 $ 210,700 2019 $ 303,619 Cost of goods sold 238,589 191,280 134,848 Gross profit 157,738 112,339 75,852 Selling expenses 56,278 41,899 27,812 Administrative expenses 35,669 26,718 17,488 Total expenses 91,947 68,617 45,300 Income before taxes 65,791 43,722 30,552 Income tax expense 12,237 8,963 6,202 Net income $ 53,554 $ 34,759 $ 24,350 KORBIN COMPANY Comparative Balance Sheets December 31, 2020, 2019, and 2018. 2020 $ 56,120 0 104,223 2019 $ 37,561 400 95,235 $ 160,343 $ 133,196 $ 23,410 72,000 9,000 55,933. $ 19,846 72,000 9,000 32,350 2018 $ 50,211 4,960 55,182 $ 110,353 $ 19,312 54,000 6,000 31,041 Assets Current assets Long-term investments Plant assets, net Total assets Current liabilities Liabilities and Equity Common stock Other paid-in capital Retained earnings