Simon Company's year-end balance sheets follow. 2017 2016 2015 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 36,089 $ 42,185 $ 42,236 89,400 62,800 53,180 114,50e 83,500 59, eee 11,622 11,074 4,693 342, 252 312,392 255,171 $ 593,863 $ 511,951 $ 414, 2ee $ 152,388 $ 89,115 $ 56, 315 114,996 121,281 94,284 162,5ee 162,500 162,500 164,059 139,055 101, 101 $ 593,863 $ 511,951 $ 414,200 The company's income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on credit: For Year Ended December 31 Sales Cost of goods sold Other operating expenses 2017 $ 772,022 $ 470,933 239,327 2016 $ 609,222 $ 395,994 154,133 6