The comparative statements of Corbin Company are presented below .

Problem 14-6A The comparative statements of Corbin Company are presented below CORBIN COMPANY Income Statement For the Years Ended December 31 2017 2016 Net sales (a on account) $519,000 $600,500 Expenses Cost of goods sold 414,300 353,900 Selling and administrative 120,500 113,600 7,000 Interest expense 5,500 Income tax expense 13,000 18,000 Total expenses 559,800 486,000 33,000 40,700 Net income