Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 2 2021 2020 Sales $1483, 229 $ 370, 193 Cost of goods sold 1290,904 283 222 Gross profit 192, 325 136, 971 Selling expenses 68,619 51,087 Administrative expenses 43,491 32,577 Total expenses 112, 110 83,664 Income before taxes 80,215 53, 307 Income tax expense 14,920 10.928 Net income $ 65,295 $ 42,379 2019 $ 256, 900 164,416 92,484 33.911 21323 55,234 37.250 7.562 $ 29,688 2020 2019 KORBIN COMPANY Comparative Balance Sheets December 31 2021 Assets Current assets $ 60,834 Long-term investments Plant assets, net 114,732 Total assets $ 175, 566 Liabilities and Equity Current liabilities $ 25,633 Common stock 66,000 Other paid-in capital 8,250 Retained earnings 25,683 Total liabilities and equity $ 175, 566 $ 40, 716 1,000 184, 126 $ 145,842 $ 54,428 3,310 63,092 $ 120,830 $ 21,730 66,000 8,250 49,862 $ 21, 145 48,000 5,333 46,352 $ 120,830 $ 145,842 erences KORBIN COMPANY Balance Sheet Data in Trend Petcents December 31, 2021, 2020 and 2019 2021 2020 2019 5 100.00% 100.00 100.00 10000 Assets Current assets Long-term investments Plant assets, not Total assets Liabilities and Equity Current bites Common stock Other paid in capital Retained earnings Total liabilities and equity 100 00 % 100.00 100.00 100.00 100.00