! 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 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 Current Yr 1 Yr Ago 2 Yrs Ago $ 33,952 89,300 111,500 10,934 $ 39,687 $ 41,341 62,700 83,500 10,418 50,000 52,000 4,593 335,588 304,793 273,866 $581,274 $ 501,098 $421,800 $143,290 $ 83,839 $55,121 108,187 114,100 92,286 162,500 162,500 162,500 167,297 140,659 111,893 $581,274 $ 501,098 $ 421,800 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 $ 460,950 234,253 12,846 9,824 $ 755,656 717,873 $ 37,783 $ 2.33 1 Yr Ago $ 596,307 $ 387,600 150,866 13,715 8,945 561,126 $ 35,181 $ 2.16