The comparative statements of Corbin Company are presented below. CORBIN COMPANY Income Statement For the Years Ended December 31 2017 2016 $599,900 Net sales (all on account) $519,900 Expenses Cost of goods sold 415,800 353,000 120,200 Selling and administrative 113,300 Interest expense 8,300 6,900 17,100 14,000 Income tax expense Total expenses 561,400 487,200 32,700 38,500 Net income CORBIN COMPANY Balance Sheets December 31 2017 2016 ssets Current assets 20,800 18,200 Cash 18,300 Short-term investments 14,500 85,400 Accounts receivable (net) 73,600 Inventory 89,600 69,900 Total current assets 214,100 176,200 Plant assets (net) 423,800 383,800 $560,000 $637,900 Total assets Liabilities and Stockholders' Equity