Exercise 13-10 Efficiency and profitability analysis LO P3 [The following information applies to the questions displayed below. Simon Company's year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 31,800 35, 625 S 37,800 89, 500 62, 500 50, 200 112, 500 82,500 54,000 10, 700 9, 375 5,000 278,500255, 000 230,500 $523,000 $445, $377,50 Liabilities and Equity $129, 900 75,250 $ 51,250 Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 98, 500 101, 500 83, 500 163, 500 163,500 163, 500 131, 100 104, 750 79, 250 $523, 000 $445, 000 $377,500 The company's income statements for the years ended December 31, 2017 and 2016, follow For Year Ended December 31 2017 2016 673, 500 $ 532