imon Company's year-end balance sheets follow At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 2017 2016 2015 $ 31,800 34,600 36,000 52,600 58,300 3,889 327,569 230,892 199,211 $520,000 $420,000 $350,000 88,400 62,647 9,584 63,400 82,200 8,908 Liabilities and Equity Accounts payable Long-term notes payable secured by $128,185 $ 70,980 $ 45,276 mortgages on plant assets Common stock, $10 par valuee Retained earnings Total liabilities and equity 78,897 162,500 162,500 162,500 63,327 $520,000 $420,000 $350,000 96,782 98,532 132,533 87,988 The company's income statements for the years ended December 31, 2017 and 2016, follow For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income 2017 2016 $676,000 499,800 $412,360 209,560 11,492 8,788 $324,870 126,449 11,495 7,497 642,200 $33,800 $2.08 470,311 $ 29,489 $1.81 Earnings per share