Exercise 13-11 Profitability analysls LO P3 Simon Company's year-end balance sheets follow. At December 31 Assets 2017 2016 2015 Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by S 31,700 34,500 36, 100 89, 900 64, 100 59, 200 53, 435 84, 300 52, 300 10, 427 10, 185 4, 333 374,538 291,915 238,067 $560,000 $485,000 $398,000 $138, 046 $ 79,506 $ 51, 480 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 103, 174 112,666 87,914 162,500 162, 500 162, 500 156, 280 130, 328 88,106 $560, 000 $485, 000 $390, 000