Course Solutions Uncategorized (Answered) : Selected Comparatlive Financlal Statements Korbln Company Follow Korbin Company Comparatlv Q32197125

(Answered) : Selected Comparatlive Financlal Statements Korbln Company Follow Korbin Company Comparatlv Q32197125

Selected comparatlive financlal statements of Korbln Company follow KORBIN COMPANY Comparatlve Income Statements For Years Ended December 31, 2015, 2014, and 2013 2014 229,681 133,739 2015 2013 Sales $ 474,388 285,582 363.420 252,200 161,408 Cost of goods sold Gross profit Selling expenses Adminlstrative expenses 188,806 67,363 42,695 50,152 31,981 90,792 33,290 20,933 Total expenses 110,058 82,133 54,223 51,606 Income before taxes Income taxes 78,748 4,647 36,569 7.424 10,579 Net Income 64.101 4 1,027 29,145 KORBIN COMPANY Comparatlve Balance Sheets December 31, 2015, 2014, and 2013 2015 2014 2013 Assets Current assets Long-term Investments Plant assets, net S 48,388 0 88,494 37,857 400 94,660 4.740 54,775 Total assets $ 136,882 132,917110,122 Liablities and Equity Current labllties Common stock Other pald-In capltal Retalned earnings $ 19,985 70,000 8,750 38,147 19,805 19.271 52,000 5,778 33,073 70,000 8,750 34,362 Total Ilabilities and equity $ 136,882 132,917110,122

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