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KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2014, 2013, and 2012
			2014				2013				2012
Sales		$	484,358			$	371,058			$	257,500
Cost of goods sold			291,584				232,282				164,800
Gross profit			192,774				138,776				92,700
Selling expenses			68,779				51,206				33,990
Administrative expenses			43,592				32,653				21,373
Total expenses			112,371				83,859				55,363
Income before taxes			80,403				54,917				37,337
Income taxes			14,955				11,258				7,579
Net income		$	65,448			$	43,659			$	29,758

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2014, 2013, and 2012
			2014				2013				2012
Assets
Current assets		$	48,055			$	37,597			$	50,259
Long-term investments			0				600				3,870
Plant assets, net			89,246				95,127				56,330
Total assets		$	137,301			$	133,324			$	110,459
Liabilities and Equity
Current liabilities		$	20,046			$	19,865			$	19,330
Common stock			66,000				66,000				48,000
Other paid-in capital			8,250				8,250				5,333
Retained earnings			43,005				39,209				37,796
Total liabilities and equity		$	137,301			$	133,324			$	110,459
Complete the below table to calculate income statement data in common-size percents. (Round your answers to 2 decimal places.) Complete the below table to calculate the balance sheet data in trend percents with 2012 as the base year. (Round your answers to 2 decimal places.)

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