Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales 2021 $ 563,548 2020 $ 431,724 2019 $ 299,600 Cost of goods sold 339,256 271,554 191,744 Gross profit 224,292 160,170 107,856 Selling expenses 80,024 59,578 39,547 Administrative expenses 50,719 37,992 24,867 Total expenses 130,743 97,570 64,414 Income before taxes. 93,549 62,600 43,442 Income tax expense Net income 17,400 12,833 8,819 $ 76,149 $ 49,767 $ 34,623 KORBIN COMPANY Comparative Balance Sheets. December 31 2021 Assets Current assets Long-term investments Plant assets, net $ 57,370 104,921 0 Total assets $ 162,291 $ 134,815 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings $ 23,694 73,000 9,125 56,472 Total liabilities and equity $ 162,291 $ 134,815 2020 $ 38,398 900 95,517 $ 20,087 73,000 9,125 32,603 2019 $ 51,329 3,260 57,105 $ 111,694 $ 19,546 55,000 6,111 31,037 $ 111,694