Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 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 $ 32,481 89,800 115,000 10, 460 314,020 $561,761 $ 37,967 $ 39,953 62,900 50, 100 84,000 55,000 9,966 4,439 289,444 262,308 $ 484,277 $ 411,800 $137,081 $ 80,206 $ 53,270 103,499 162,500 158,681 $561,761 109, 156 89,188 162,500 162,500 132, 415 106,842 $ 484,277 $ 411,800 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are 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 $ 730, 289 $ 445, 476 226,390 12,415 9,494 693,775 $36,514 $ 2.25 1 Yr Ago $ 576,290 $ 374,589 145,801 13,255 8,644 542,289 $ 34,001 $ 2.09