Sales Cost of goods sold Lia SLOLENCILS VIROIDm Company www. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2028, 2019, and 2018 2018 $ 252,100 161, 344 2820 $ 474,200 2019 $ 363,276 285, 468 228, 864 Gross profit 188, 732 134, 412 98,756 Selling expenses 67,336 50,132 33, 277 Administrative expenses 42,678 31,968 20, 924 Total expenses 110, 014 82,100 54, 201 Income before taxes 78, 718 52.312 36,555 Income tax expense 14,642 10, 724 7.421 Net income $ 64,076 $ 41, 588 S 29,134 KORBIN COMPANY Comparative Balance Sheets December 31, 2020, 2019, and 2018 Assets Current assets Long-term investments Plant assets, net Total assets Current liabilities Liabilities and Equity Common stock Other paid-in capital Retained earnings 2020 2019 2018 S 61,857 8 41, 401 800 $ 55.344 118,485 107,688 4,540 64, 233 $ 180, 342 $ 149,809 5 124, 117 S 26,330 $ 22,322 6 21,720 70.000 8,750 75,262 8.750 48.737 $ 149,809 70,000 52,000 5,778 44,619 Total liabilities and equity S 180,342