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 Current Year 1 Year Ago 2 Years Ago Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 26,719 89,400 114,000 8,604 205,261 $ 443,984 $ 112,763 85,138 162,500 83,583 $ 443,984 $ 31,232 63,000 82,500 8,198 197,815 $ 382,745 $ 65,978 89,792 162,500 64,475 $ 382,745 $ 31,576 50,800 57,000 3,508 169,816 $ 312,700 $ 42,102 70,489 162,500 37,609 $ 312,700 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 $ 577,179 $ 352,079 1 Year Ago $ 455,467 178,925 9,812 7,503 548,319 $ 28,860 $ 1.78 $ 296,054 115,233 10,476 6,832 428,595 $ 26,872 $ 1.65