Saved 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 Sales $486,427 $372,643 2015 $258,600 Cost of goods sold 292,829 233,647 165,504 Gross profit 193,598 138,996 93,096 Selling expenses 69,073 51,425 34,135 Administrative expenses 43,778 32,793 21,464 Total expenses 112,851 84,218 55,599 Income before taxes 80,747 54,778 37,497 Income taxes Net income 15,019 11,229 7,612 $ 65,728 $ 43,549 $ 29,885 Assets Current assets KORBIN COMPANY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 $ 47,870 0 86,219 2016 $ 37,452 700 92,053 $ 130,205 2015 $ 50,065 3,570 54,240 $107,875 Long-term investments Plant assets, net Total assets $ 134,089 Liabilities and Equity Current liabilities. $ 19,577 Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 19,401 65,000 8,125 37,679 36,775 $134,089 $ 130,205 $107,875 65,000 8,125 41,387 $ 18,878 47,000 5,222