Answer
Robinson Corporation Balance Sheets
December 31,
2010 Percent 2009 Percent
Sales 800,000 100 600,000 100
Work Step by Step
Cost of goods sold 520,000 65 408,000 68
Selling Expense 120,000 15 72,000 12
Administrative expense 72,000 9 48,000 8
Income tax expense 32,000 4 21,600 3.6
Net income 56,000 7 50,400 8.4
