Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income 2020 2019 $ 381,091 229,417 $291,947 $ 202,600 182,759 129,664 151,674 109,188 72,936 54,115 40,289 26,743 34,298 25,691 16,816 88,413 65,980 43,559 63,261 43,208 29,377 11,767 8,858 5,964 $.51,494 $ 34,350 $23,413 KORBIN COMPANY Comparative Balance Sheets December 31 Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity. Current liabilities Common stock Other paid-in capital Retained earnings 2021 $ 63,879 e 115,054 $178,933 $ 26,124 65,000 8,125 79,684 2020 $ 42,754 1,200 104,684 $ 148,638 $ 22,147 65,000 8,125 53,366 2019 $ 57,153 4,590 61,404 $123,147 $ 21,551 47,000 5,222 49,374