Sales KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Cost of goods sold Gross profit Selling expenses Total expenses Administrative expenses Income before taxes Income tax expense Net income 2021 $ 523,482 2020 $ 401,030 315,136 254,253 2019 $ 278,300 178,112 208,346 146,777 100,188 74,334 55,342 36,736 47,113 35,291 23,099 121,447 90,633 59,835 86,899 56,144 40,353 16,163 11,510 8,192 $ 70,736 $ 44,634 $ 32,161 KORBIN COMPANY Comparative Balance Sheets December 31 Assets Current assets Long-term investments Plant assets, net Total assets Current liabilities Liabilities and Equity Common stock Other paid-in capital Retained earnings 2021 $ 56,368 103,090 2020 $ 37,728 600 94,133 0 $ 159,458 $ 132,461 $ 23,281 66,000 8,250 61,927 $ 19,737 66,000 2019 $ 50,433 4,950 54,361 $ 109,744 $ 19,205 48,000 5,333 37,206 8,250 38,474 Total liabilities and equity $ 159,458 $ 132,461 $ 109,744