Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets...
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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 Current Yr 1 Yr Ago 2 Yrs Ago $ 31,800 $ 35,625 $ 37,800 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 89,500 62,500 50,200 112,500 82,500 54,000 10,700 9,375 5,000 278,500 255,000 230,500 $523,000 $445,000 $377,500 $129,900 $ 75,250 $51,250 98,500 101,500 83,500 163,500 163,500 163,500 131,100 104,750 79,250 $523,000 $445,000 $377,500 For Year Ended December 31 The company's income statements for the current year and 1 year ago, follow. Sales 1 Yr Ago $532,000 Current Yr $673,500 Cost of goods sold $411,225 $345,500 Other operating expenses 209,550 134,980 Interest expense .12,100 Income tax expense 9,525 13,300 8,845 Total costs and expenses Net income 642,400 $ 31,100 502,625 $ 29,375 Earnings per share $ 1.90 $ 1.80 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 Current Yr 1 Yr Ago 2 Yrs Ago $ 31,800 $ 35,625 $ 37,800 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 89,500 62,500 50,200 112,500 82,500 54,000 10,700 9,375 5,000 278,500 255,000 230,500 $523,000 $445,000 $377,500 $129,900 $ 75,250 $51,250 98,500 101,500 83,500 163,500 163,500 163,500 131,100 104,750 79,250 $523,000 $445,000 $377,500 For Year Ended December 31 The company's income statements for the current year and 1 year ago, follow. Sales 1 Yr Ago $532,000 Current Yr $673,500 Cost of goods sold $411,225 $345,500 Other operating expenses 209,550 134,980 Interest expense .12,100 Income tax expense 9,525 13,300 8,845 Total costs and expenses Net income 642,400 $ 31,100 502,625 $ 29,375 Earnings per share $ 1.90 $ 1.80
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