Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 Sales $ 411,751 $ 315,435 2019 $ 218,900 Cost of goods sold 247,874 199,039 140,096 8 Gross profit 163,877 116,396 78,804 Selling expenses 58,469 43,530 28,895 Administrative expenses. 37,058 27,758 18,169 Total expenses 95,527 71,288 47,064 Income before taxes 68,350 45,108 31,740 Income tax expense 12,713 9,247 6,443 Net income $ 55,637 $ 35,861 $ 25,297 Assets KORBIN COMPANY Comparative Balance Sheets December 31 Current assets Long-term investments 2021 2020 2019 $ 62,338 0 $ 41,723 700 $ 55,774 4,110 115,772 105,532 62,697 Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 178,110 $ 147,955 $ 122,581 $ 26,004 $ 22,045 $ 21,452 72,000 72,000 54,000 9,000 71,106 9,000 44,910 6,000 41,129 $ 178,110 $ 147,955 $122,581