Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales 2021 $ 380,526 2020 $ 291,514 2019 $ 202,300 Cost of goods sold 229,077 183,654 129,472 Gross profit 151,449 107,860 72,828 Selling expenses 54,035 40,229 26,704 Administrative expenses 34,247 25,653 16,791 Total expenses 88,282 65,882 43,495 Income before taxes 63,167 41,978 29,333 Income tax expense Net income 11,749 8,606 5,955 $ 51,418 $ 33,372 $ 23,378 KORBIN COMPANY Comparative Balance Sheets December 31 2021 Assets Current assets Long-term investments Plant assets, net $ 58,372 0 108,406 Total assets $ 166,778 Liabilities and Equity Current liabilities. Common stock Other paid-in capital Retained earnings $ 24,350 68,000 8,500 65,928 $ 20,643 68,000 8,500 41,399 Total liabilities and equity $ 166,778 $ 138,542 2020 $ 39,069 800 98,673 $ 138,542 2019 $ 52,226 4,410 58,146 $ 114,782 $ 20,087 50,000 5,556 39,139 $ 114,782