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 Current Year 1 Year Ago 2 Years Ago $ 32,772 89,600 $ 38,307 $ 40,726 62,300 111,500 10,554 328,210 $572,636 $ 138,309 104,426 162,500 167,401 $572,636 82,500 10,056 300,489 $ 493,652 $ 493,652 50,600 55,000 4,525 273,249 $ 424,100 $ 54,302 90,914 162,500 116,384 $ 424,100 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: Accounts payable Long-term notes payable. Common stock, $10 par value Retained earnings Total liabilities and equity $ 80,924 110,134 162,500 140,094 For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Current Year $744,427 $454,100 230,772 Income tax expense Total costs and expenses Net income Earnings per share 12,655) 9,678 707,205 $ 37,222 $2.29 1 Year Ago $ 587,446 $ 381,840 148,624 13,511 8,812 552,787 $ 34,659 $ 2.13.