Selected comparative financial statements of Korbin Company
follow.
KORBIN COMPANY
Comparative Income Statements
For Years Ended...
Selected comparative financial statements of Korbin Company
follow.
KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2017, 2016, and 2015
2017
2016
2015
Sales
$
555,000
$
340,000
$
278,000
Cost of goods
sold
283,500
212,500
153,900
Gross
profit
271,500
127,500
124,100
Selling
expenses
102,900
46,920
50,800
Administrative
expenses
50,668
29,920
22,800
Total
expenses
153,568
76,840
73,600
Income before
taxes
117,932
50,660
50,500
Income
taxes
40,800
10,370
15,670
Net income
$
77,132
$
40,290
$
34,830
KORBIN...
Selected comparative financial statements of Korbin Company
follow.
KORBIN COMPANY
Comparative Income Statements
For Years Ended...
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
$
385,229
$
295,117
$
204,800
Cost of goods sold
231,908
185,924
131,072
Gross profit
153,321
109,193
73,728
Selling expenses
54,703
40,726
27,034
Administrative expenses
34,671
25,970
16,998
Total expenses
89,374
66,696
44,032
Income before taxes
63,947
42,497
29,696
Income tax expense
11,894
8,712
6,028
Net income
$
52,053
$
33,785
$
23,668
KORBIN...
Selected comparative financial statements of Korbin Company
follow.
KORBIN COMPANY
Comparative Income Statements
For Years Ended...
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
$
385,229
$
295,117
$
204,800
Cost of goods sold
231,908
185,924
131,072
Gross profit
153,321
109,193
73,728
Selling expenses
54,703
40,726
27,034
Administrative expenses
34,671
25,970
16,998
Total expenses
89,374
66,696
44,032
Income before taxes
63,947
42,497
29,696
Income tax expense
11,894
8,712
6,028
Net income
$
52,053
$
33,785
$
23,668
KORBIN...
Required information
[The following information applies to the questions
displayed below.]
Selected comparative financial statements of...
Required information
[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, 2017, 2016, and
2015
2017
2016
2015
Sales
$
517,275
$
396,275
$
275,000
Cost of goods sold
311,400
250,050
176,000
Gross profit
205,875
146,225
99,000
Selling expenses
73,453
54,686
36,300
Administrative expenses
46,555
34,872
22,825
Total expenses
120,008
89,558
59,125
Income before taxes
85,867
56,667
39,875
Income taxes
15,971
11,617...
Required information
[The following information applies to the questions
displayed below.]
Selected comparative financial statements of...
Required information
[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, 2017, 2016, and 2015
2017
2016
2015
Sales
$
438,273
$
335,753
$
233,000
Cost of goods sold
263,840
210,853
149,120
Gross profit
174,433
124,900
83,880
Selling expenses
62,235
46,334
30,756
Administrative expenses
39,445
29,546
19,339
Total expenses
101,680
75,880
50,095
Income before taxes
72,753
49,020
33,785
Income taxes
13,532
10,049...
[The following information applies to the questions
displayed below.]
Selected comparative financial statements of Korbin Company...
[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, 2019, 2018, and
2017
2019
2018
2017
Sales
$
484,546
$
371,202
$
257,600
Cost of goods sold
291,697
233,486
164,864
Gross profit
192,849
137,716
92,736
Selling expenses
68,806
51,226
34,003
Administrative expenses
43,609
32,666
21,381
Total expenses
112,415
83,892
55,384
Income before taxes
80,434
53,824
37,352
Income tax expense
14,961
11,034
7,582...
Selected comparative financial statements of Haroun Company
follow.
HAROUN COMPANY
Comparative Income Statements
For Years Ended...
Selected comparative financial statements of Haroun Company
follow.
HAROUN COMPANY
Comparative Income Statements
For Years Ended December 31, 2019–2013
($ thousands)
2019
2018
2017
2016
2015
2014
2013
Sales
$
1,811
$
1,587
$
1,443
$
1,323
$
1,235
$
1,148
$
941
Cost of goods sold
1,302
1,059
911
797
741
693
552
Gross profit
509
528
532
526
494
455
389
Operating expenses
388
303
278
205
178
176
146
Net income
$
121
$
225
$
254...
Problem 17-2A Ratios, common-size statements, and trend percents
LO P1, P2, P3 [The following information applies...
Problem 17-2A Ratios, common-size statements, and trend percents
LO P1, P2, P3 [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, 2017, 2016, and 2015 2017 2016 2015
Sales $505,425 $387,197 $268,700 Cost of goods sold 304,266 243,547
171,968 Gross profit 201,159 143,650 96,732 Selling expenses 71,770
53,433 35,468 Administrative expenses 45,488 34,073 22,302 Total
expenses 117,258 87,506 57,770 Income before taxes...
Problem 17-2A Ratios, common-size statements, and trend percents
LO P1, P2, P3 [The following information applies...
Problem 17-2A Ratios, common-size statements, and trend percents
LO P1, P2, P3 [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, 2017, 2016, and 2015 2017 2016 2015
Sales $505,425 $387,197 $268,700 Cost of goods sold 304,266 243,547
171,968 Gross profit 201,159 143,650 96,732 Selling expenses 71,770
53,433 35,468 Administrative expenses 45,488 34,073 22,302 Total
expenses 117,258 87,506 57,770 Income before taxes...
LOGIC COMPANY
Comparative Income Statement
For Years Ended December 31, 2016 and 2017
2017
2016
Gross...
LOGIC COMPANY
Comparative Income Statement
For Years Ended December 31, 2016 and 2017
2017
2016
Gross sales
$
19,000
$
15,000
Sales returns and
allowances
1,000
100
Net sales
$
18,000
$
14,900
Cost of merchandise (goods)
sold
12,000
9,000
Gross profit
$
6,000
$
5,900
Operating expenses:
Depreciation
$
700
$
600
Selling and administrative
2,200
2,000
Research
550
500
Miscellaneous
360
300
Total operating expenses
$
3,810
$
3,400
Income before interest and
taxes
$
2,190
$
2,500...