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
$
527,432
$
404,056
$
280,400
Cost of goods sold
317,514
252,939
179,456
Gross profit
209,918
151,117
100,944
Selling expenses
74,895
55,760
37,013
Administrative expenses
47,469
35,557
23,273
Total expenses
122,364
91,317
60,286
Income before taxes
87,554
59,800
40,658
Income tax expense
16,285
12,259
8,254
Net income
$
71,269
$
47,541
$
32,404
KORBIN...