Sales KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 $ 446,173 $ 341,805 2019 $ 237,200 151,808 Cost of goods sold 268,596 216,021 Gross profit Selling expenses Administrative expenses Total expenses 177,577 125,784 85,392 63,357 47,169 31,310 40,156 30,079 19,688 103,513 77,248 50,998 Income before taxes 74,064 48,536 34,394 Income tax expense Net income 13,776 9,950 6,982 $ 60,288 $ 38,586 $ 27,412 Assets Current assets Long-term investments Plant assets, net KORBIN COMPANY Comparative Balance Sheets December 31 2021 $ 58,250 109,861 0 Total assets $ 168,111 $ 139,649 Liabilities and Equity Current liabilities $ 24,544 $ 20,808 Common stock Other paid-in capital Retained earnings 71,000 8,875 63,692 8,875 38,966 Total liabilities and equity $ 168,111 $ 139,649 2020 $ 38,987 600 100,062 71,000 2019 $ 52,117 3,700 59,882 $ 115,699 $ 20,247 53,000 5,889 36,563 $ 115,699