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Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015
Selected comparative financial statements of Korbin Company follow:
KORBIN COMPANY | |||||||||
Comparative Income Statements | |||||||||
For Years Ended December 31, 2017, 2016, and 2015 | |||||||||
2017 | 2016 | 2015 | |||||||
Sales | $ | 431,878 | $ | 330,854 | $ | 229,600 | |||
Cost of goods sold | 259,991 | 206,784 | 146,944 | ||||||
Gross profit | 171,887 | 124,070 | 82,656 | ||||||
Selling expenses | 61,327 | 45,658 | 30,307 | ||||||
Administrative expenses | 38,869 | 29,115 | 19,057 | ||||||
Total expenses | 100,196 | 74,773 | 49,364 | ||||||
Income before taxes | 71,691 | 49,297 | 33,292 | ||||||
Income taxes | 13,335 | 10,106 | 6,758 | ||||||
Net income | $ | 58,356 | $ | 39,191 | $ | 26,534 | |||
KORBIN COMPANY | |||||||||
Comparative Balance Sheets | |||||||||
December 31, 2017, 2016, and 2015 | |||||||||
2017 | 2016 | 2015 | |||||||
Assets | |||||||||
Current assets | $ | 48,822 | $ | 38,197 | $ | 51,061 | |||
Long-term investments | 0 | 700 | 4,070 | ||||||
Plant assets, net | 93,516 | 99,319 | 59,381 | ||||||
Total assets | $ | 142,338 | $ | 138,216 | $ | 114,512 | |||
Liabilities and Equity | |||||||||
Current liabilities | $ | 20,781 | $ | 20,594 | $ | 20,040 | |||
Common stock | 66,000 | 66,000 | 48,000 | ||||||
Other paid-in capital | 8,250 | 8,250 | 5,333 | ||||||
Retained earnings | 47,307 | 43,372 | 41,139 | ||||||
Total liabilities and equity | $ | 142,338 | $ | 138,216 | $ | 114,512 | |||
calculate income statement data in common-size percents |
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