[The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 Sales $ 414,761 $ 317,741 2019 $ 220,500 Cost of goods sold 249,686 199,224 141,120 Gross profit 165,075 118,517 79,380 Selling expenses 58,896 43,848 29,106 Administrative expenses 37,328 27,961 18,302 Total expenses 96,224 71,809 47,408 Income before taxes 68,851 46,708 31,972 Income tax expense 12,806 9,575 6,490 Net income $ 56,045 $ 37,133 $ 25,482 Assets KORBIN COMPANY Comparative Balance Sheets December 31 Current assets Long-term investments 2021 2020 2019 $ 62,984 0 116,970 $ 42,155 $ 56,352 1,000 106,332 3,100 64,398 Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital $ 179,954 $ 149,487 $ 123,850 6,111 $ 26,273 73,000 $ 22,274 $ 21,674 73,000 55,000 9,125 71,556 9,125 45,088 41,065 Total liabilities and equity $ 179,954 $ 149,487 $ 123,850 Retained earnings