[Ine Tollowing information applies to the questions aisplayed deiow.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Current Year 1 Year Ago 2 Years Ago $ 31,000 $ 35,250 61,000 86,200 110,500 10,350 281,000 $ 519,050 $ 128,800 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 97,500 81,000 9,200 249,500 $ 435,950 $ 74,000 101,000 161,500 99,450 161,500 131,250 $ 519,050 $ 435,950 $ 37,400 49,000 52,500 4,300 234,000 $ 377,200 $ 50,200 81,400 161,500 84,100 $ 377,200 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Current Year 1 Year Ago $ 775,000 $ 620,000 $ 480,500 248,000 390,600 142,600 12,500 9,500 8,525 749,200 554,225 11,200