Exercise 13-10 Analyzing efficiency and profitability LO P3 [The following Information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Current Yr 1 Yr Ago 2 Yrs Ago $ 30,200 $ 35,750 $ 37,600 88,900 61,500 50,500 111,000 81,600 53,000 10,650 9,350 4,400 Plant assets, net 281,000 257,500 229,000 Total assets $521,750 $445,700 $ 374,500 Liabilities and Equity Accounts payable $128,800 $ 75,250 $ 50,800 Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value 95,000 160,500 Retained earnings 137,450 98,000 160,500 111,950 Total liabilities and equity $521,750 80,200 160,500 83,000 $445,700 $ 374,500 The company's Income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Current Yr $745,000 1 Yr Ago $ 630,000 Cost of goods sold $447,000 Other operating expenses 230,950 Interest expense 12,100 Income tax expense 9,300 $396,900 144,900 13,200 8,850 Total costs and expenses 699,350 Net income $ 45,650 Earnings per share 563,850 $ 66,150 $ 2.84 $ 4.12