Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $504,296 $ 386, 332 $ 268,100 Cost of goods sold 303,586 242, 230 171,584 Gross profit 200, 710 144,102 96,516 Selling expenses 71,610 53,314 35, 389 Administrative expenses 45,387 33,997 22,252 Total expenses 116,997 87,311 57,641 Income before taxes 83,713 56,791 38,875 Income tax expense 15,571 11,642 7,892 Net income $ 68,142 $ 45,149 $ 30,983 2017 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 Assets Current assets $ 57,492 $ 38, 479 Long-term investments 0 900 Plant assets, net 108,429 98,451 Total assets $ 165,921 $ 137,830 Liabilities and Equity Current liabilities $ 24,224 $ 20,537 Common stock 63,000 63,000 Other paid-in capital 7,875 7,875 Retained earnings 70,822 46,418 Total liabilities and equity $ 165,921 $ 137,830 $ 51,438 3,480 59, 274 $ 114,192 $ 19,984 45,000 5,000 44,208 $ 114,192 KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 2018 2017 % % 100.00 % 0.00 100.00 100.00 % % 100.00 % Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity % % 100.00 % 100.00 100.00 100.00 % % 100.00 %