! Required information [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 Current Yr 1 Yr Ago 2 Yrs Ago $ 29,351 $ 34,308 $ 34,687 89,300 111,500 9,452 248,112 62,500 50,300 83,500 58,000 9,006 3,854 231,130 196,659 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 $487,715 $ 420,444 $ 343,500 $123,870 $ 72,476 $ 46,249 93,524 98,636 162,500 107,821 $487,715 162,500 86,832 $ 420,444 $ 343,500 77,432 162,500 57,319 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 Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Yr $ 634,030 $ 386,758 196,549 10,779 8,242 1 Yr Ago $ 500,328 $ 31,702 $ 325,213 126,583 11,508 7,505 470,809 $ 29,519 602,328 $ 1.95 $ 1.82