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At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 29,294 $ 32, 247 $ 34,969 Accounts receivable, net 79,958 57
At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 29,294 $ 32, 247 $ 34,969 Accounts receivable, net 79,958 57 , 015 44,797 Merchandise inventory 101,568 74,572 50, 158 Prepaid expenses 9,342 8,989 3,771 Plant assets, net 261, 888 242, 737 212, 605 Total assets $ 482, 050 $ 415, 560 $ 346, 300 Liabilities and Equity Accounts payable $ 118,830 $ 71, 634 $ 47, 083 Long-term notes payable 90, 625 97 , 490 76,532 Common stock, $10 par value 162,509 162, 500 162, 500 Retained earnings 110, 095 83,936 60, 185 Total liabilities and equity $ 482, 050 $ 415, 560 $ 346, 300 The company's income statements for the current year and one year ago, follow. For Year Ended December 31 Current Year 1 Year Ago Sales $ 626, 665 $ 494,516 Cost of goods sold $ 382, 266 $ 321, 435 Other operating expenses 194, 266 125, 113 Interest expense 10, 653 11, 374 Income tax expense 8, 147 7, 418 Total costs and expenses 595, 332 465,340 Net income $ 31,333 $ 29, 176 Earnings per share $ 1.93 $ 1. 80{1] Compute debt and equity ratio for the current year and one year age
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