Question
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
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 by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity Current Yr 1 Yr Ago 2 Yrs Ago $ 31,800 $ 34,000 $ 37,300 88,400 63,900 58,700 68,066 82,600 59,300 9,682 9,459 4,029 322,052 265,041 210,671 $520,000 $455,000 $370,000 $129,480 $ 76,126 $ 49,817 94,827 105,697 83,405 162,500 162,500 162,500 133,193 110,677 74,278 $520,000 $455,000 $370,000 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Yr 1 Yr Ago 136,987 12,453 8,122 $ 541,450 $676,000 $412,360 $351,943 209,560 11,492 8,788 642,200 $ 33,800 509,505 $ 31,945 $ 2.08 $ 1.97
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