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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,
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 Current Year 1 Year Ago 2 Years Ago $ 39,009 $ 39,838 71,024 $ 34,046 95,746 122,839 10,638 308,075 $ 571,344 Long-term notes payable Common stock, $10 par value. $ 143,687 104,190 162,500 Retained earnings 160,967 Total liabilities and equity $ 571,344 92,031 10,550 279,924 $ 492,538 $ 85,736 114,417 162,500 129,885 $ 492,538 53,117 56,569 4,294 248,582 $ 402,400 $ 52,054 90,709 162,500 97,137 $ 402,400 The company's income statements for the current year and one year ago, follow. For Year Ended December 311 Sales Cost of goods sold. Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 453,076 230,252 $ 742,747 12,627 9,656 705,611 $ 37,136 $ 2.29 1 Year Ago $ 586,120 $ 380,978 148,288 13,481 8,792 551,539 $ 34,581 $ 2.13
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