Required information Exercise 13-8 (Algo) Analyzing and interpreting liquidity LO P3 [Alternate Version] [The following information applies to the questions displayed below.] 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 $ 36,826 90,000 $ 43,046 $ 44,392 62,800 51,100 110,500 83,500 59,000 11,300 337,434 $538,080 11,859 374,988 $624,173 $ 155,419 117,345 162,500 $ 90,936 123,758 162,500 4,932 288,976 $ 448,400 $ 59,189 99,096 162,500 127,615 160,886 $538,080 $448,400 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 188,909 $624,173 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 811,425 $ 494,969 251,542 13,794 10,549 770,854 $ 40,571 $ 2.50 1 Year Ago $ 640,315 $416,205 162,000 14,727 9,605 602,537 $ 37,778 $ 2.32