Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2018 $ 408,379 258,912 2017 $ 283,400 181,376 2019 $ 533,075 320,911 212,164 149,467 102,024 75,697 56,356 37,409 47,977 35,937 23,522 123,674 92,293 60,931 88,490 57,174 41,093 16,459 $ 72,031 $ 45,453 $ 32,751 11,721 8,342 Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 $ 61,263 $ 41,004 $ 54,812 Total liabilities and equity I 117,347 $ 178,610 $ 148,370 1,000 106,366 3,760 64,353 $ 122,925 $ 21,512 71,000 8,875 72,658 8,875 46,388 $ 178,610 $ 148,370 53,000 5,889 42,524 $ 122,925 $ 26,077 $ 22,107 71,000 Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2019 % 2018 2017 % % % % + %