! Required Information [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 $ 28,468 89,900 111,000 9,168 239,196 90,712 $ 477,732 $ 120,145 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 162,500 104,375 $ 477,732 $ 33,277 62,100 82,500 8,735 225,226 $ 411,838 $ 70,297 95,670 162,500 83,371 $ 411,838 $ 33,977 51,500 57,000 3,775 193,548 $ 339,800 $ 45,302 75,847 162,500 56,151 $ 339,800 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 $ 621,052 $ 378,842 192,526 10,558 8,074 590,000 $ 31,052 $ 1.91 1 Year Ago $ 490,087 $ 318,557 123,992 11,272 7,351 461,172 $ 28,915 $ 1.78