2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured s 31,900 34,400 37,000 89,600 64, 600 54,100 96,191 83,900 57,300 10,861 10,282 3, 626 326,448 286, 818 167,974 $555,000 $480,000 $320,000 $136,813 S 80,309 S 41,395 by mortgages on plant assets 102,253 108,192 69,306 162,500 162,500 162,500 153,434 128,999 46,799 Total liabilities and equity $555,000 $480,000 $320,000 Common stock, $10 par value Retained earnings The company's income statements for the years ended December 31, 2017 and 2016, follow For Year Ended December 31 Sales 2017 2016 $721,500 $571,200 $440,115 223, 665 12,266 9,380 $371,280 144,514 13,138 Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income 8,568 685,426 S 36,074 $2.22 537,500 $ 33,700 $ 2.07 Earnings per share