Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets $ 30,000 87,600 111,000 $ 35,000 Cash $37,800 49,500 52,000 4,900 232,000 Accounts receivable, net Merchandise inventory 62,500 81,200 9,350 Prepaid expenses 10,900 259,000 279,000 Plant assets, net $518,500 $447,050 $376,200 Total assets Liabilities and Equity Accounts payable $128,400 $ 74,000 $ 50,600 Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings 96,500 162,500 131,100 83,200 162,500 79,900 100,500 162,500 110,050 $518,500 $447,050 $376,200 Total liabilities and equity The company's income statements for the years ended December 31, 2017 and 2016, follow. For Year Ended December 31 2017 2016 Sales $ 570,000 $755,000 $364,800 136,800 12,700 $468,100 Cost of goods sold Other operating expenses Interest expense 211,400 12,300 9,400 8,675 Income taxes Total costs and expenses 522,975 701,200 $ 53,800 $47,025 Net income 2.89 3.31 Earnings per share (1) Profit margin ratio. Profit Margin Ratio Choose Denominator: Choose Numerator: Profit Margin Ratio Profit margin ratio 2017 / - 2016