Question
nexusM HEMI [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assots Cash Accounts receivable,
nexusM HEMI [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assots Cash Accounts receivable, net Merchandise inventory Prepaid expenses Current Yr 1 Yr Ago 2 Yrs Ago $ 36,460 89,700 110,500 11,741 357,445 $ 42,618 $ 43,088 62,400 50,300 85,000 57,000 11,187 4,788 321,076 271,524 Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $605,846 $153,873 116,377 $ 522,281 $ 426,700 $ 90,031 $ 57,451 122,527 96,187 162,500 173,296 162,500 147,223 162,500 110,562 $605,846 $ 522,281 $ 426,700 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: For Year Ended December 31 Sales Coat of goods sold Other operating expenses Interest expense Income tax expense Total coats and expenses Net income Earnings per share Current Yr $ 480,436 244,156 13,389 10,239 $787,600 748,220 $ 39,380 $ 2.42 $ 403,984 157,243 14,295 9,323 Ye Ago $ 621,514 584,845 $36,669 $ 2.26
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