Exercise 17-8 Liquidity analysis and interpretation LO P3 [The following information applies to the questions displayed below] Simon Company's year-end balance sheets follow Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 30,265 $ 35,377 37,227 89,20062 200$2, 100 114,00083,50051,000 4,136 280,217; 260, 868239, 237 9,746 9,286 ': 523,428 451,231 383,700 Accounts payab le Long-term notes payable secured by 127,72774,733 $ 49. 635 mortgages on plant assetS Common stock, $10 par value Retained earnings Total 1iabilities and equity 96, 436201,707 83,102 162, 500 162,500 162,500 136.765 11229188.463 523, 428 451,231 383,700 The company's income statements for the years ended December 31, 2017 and 2016, follow Assume thet all sales are on credit 680, 456 536,965 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income 415, 078 210,941 11,569 8,846 349,027 135,852 12,350 8,054 646, 433 34,023 S2.09 505, 283 31, 682 1.95 Earnings per share Exercise 17-8 Liquidity analysis and interpretation LO P3 [The following information applies to the questions displayed below] Simon Company's year-end balance sheets follow Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 30,265 $ 35,377 37,227 89,20062 200$2, 100 114,00083,50051,000 4,136 280,217; 260, 868239, 237 9,746 9,286 ': 523,428 451,231 383,700 Accounts payab le Long-term notes payable secured by 127,72774,733 $ 49. 635 mortgages on plant assetS Common stock, $10 par value Retained earnings Total 1iabilities and equity 96, 436201,707 83,102 162, 500 162,500 162,500 136.765 11229188.463 523, 428 451,231 383,700 The company's income statements for the years ended December 31, 2017 and 2016, follow Assume thet all sales are on credit 680, 456 536,965 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income 415, 078 210,941 11,569 8,846 349,027 135,852 12,350 8,054 646, 433 34,023 S2.09 505, 283 31, 682 1.95 Earnings per share