Required information Use the following information for the Exercises below. (Algo) [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 $ 34,589 98,264 127,292 10,918 309,385 $ 580,448 $ 40,431 67,952 90,720 10,508 290,775 $ 500,386 $ 82,874 116,240 162,500 138,772 Long-term notes payable Common stock, $10 par value $ 143,086 110,215 163,500 163,647 Total liabilities and equity $ 580,448 $ 500,386 Retained earnings For both the current year and one year ago, compute the following ratios: $ 42,116 55,042 59,810 4,726 259,506 $ 421,200 $ 55,042 93,085 163,500 109,573 $ 421,200 Exercise 13-8 (Algo) Analyzing and interpreting liquidity LO P3 The company's income statements for the current year and one year ago follow. Assume that all sales are c For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Current Year $ 754,582 $ 460,295 233,920 12,828 9,810 716,853 $ 37,729 1 Year Ago $ 595,459 $ 387,048 150,651 13,696 8,932 $ 35,132 560,327