At December 31 Assets Current Year 1 Year Ago 2 Years Ago Cash $ 23,734 89,500 $ 27,742 $ 29,193 63,000 51,600 84,000 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity 111,500 7,643 178,098 7,282 171,834 51,000 3,244 165,863 $ 410,475 $ 353,858 $ 300,900 Accounts payable $ 100, 164 $ 58,606 $ 38,924 Long-term notes payable Common stock, $10 par value Retained earnings 79,760 162,500 52,992 65,169 162,500 34,307 Total liabilities and equity 75,626 162,500 72,185 $ 410,475 $ 353,858 $ 300,900 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: 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 Year 1 Year Ago $ 533,618 $ 421,091 $ 325,507 165,422 $ 273,709 9,072 6,937 506,938 $ 26,680 $ 1.64 106,536 9,685 6,316 396,246 $ 24,845 $ 1.53