Selected comparative financial statements of Korbin Company follow

[The following information applies to the questions displayed belowJ Selected comparative financial statements of Korbin Company follow KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2015, 2014, and 2013 2015 2014 2013 548,500 420.196 291,600 Sales 330197 Cost of goods sold 266,824 186,624 Gross profit 218.303 104,976 Selling expenses Administrative expenses 49.365 24,203 Total expenses 127,252 94,964 Income before taxes 91,051 58,408 42.282 Income taxes 6.935 11,974 8,583 74.116 $46.434 33.699 Net income KORBIN COMPANY Comparative Balance Sheets December 31, 2015, 204, and 2013 2015 2014 2013 Assets Current assets 52.148 40,799 54,539 Long-term investments 1100 3.350 96,847 Plant assets, net 102,780 61.978 s 148,995 144,679 119.867 Total assets Liabilities and Equity Current liabilities 21753 21,557 20,977 69,000 Common stock 69,000 51,000 Other paid-in capital 8.625 8,625 5.667 45,497 Retained earnings 49,617 42,223 s 148,995 144,679 119,867 Total liabilities and equity