Exercise 13-8 Liquidity analysis and interpretation 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 37,800 89,50 62,5 50,200 112, 500 82, 500 54, 000 10, 700 9, 375 5, 000 278, 500 255, 000 230, 500 $523,000 $4 , o00 $377,500 Liabilities and Equity Accounts payable Long-term notes payable secured by $129, 900 75, 250 $ 51, 250 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