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Simon Companys year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 31,800 $ 36,000 $ 37,200 Accounts receivable, net 88,100 62,000
Simon Companys year-end balance sheets follow.
At December 31 | 2017 | 2016 | 2015 | ||||||
Assets | |||||||||
Cash | $ | 31,800 | $ | 36,000 | $ | 37,200 | |||
Accounts receivable, net | 88,100 | 62,000 | 50,500 | ||||||
Merchandise inventory | 111,000 | 83,800 | 54,500 | ||||||
Prepaid expenses | 10,300 | 9,350 | 4,600 | ||||||
Plant assets, net | 280,000 | 257,000 | 235,000 | ||||||
Total assets | $ | 521,200 | $ | 448,150 | $ | 381,800 | |||
Liabilities and Equity | |||||||||
Accounts payable | $ | 129,200 | $ | 75,250 | $ | 50,400 | |||
Long-term notes payable secured by mortgages on plant assets | 98,000 | 100,000 | 82,600 | ||||||
Common stock, $10 par value | 161,500 | 161,500 | 161,500 | ||||||
Retained earnings | 132,500 | 111,400 | 87,300 | ||||||
Total liabilities and equity | $ | 521,200 | $ | 448,150 | $ | 381,800 | |||
The companys income statements for the years ended December 31, 2017 and 2016, follow.
For Year Ended December 31 | 2017 | 2016 | ||||||||||
Sales | $ | 755,000 | $ | 640,000 | ||||||||
Cost of goods sold | $ | 468,100 | $ | 409,600 | ||||||||
Other operating expenses | 218,950 | 147,200 | ||||||||||
Interest expense | 11,300 | 13,400 | ||||||||||
Income taxes | 9,550 | 8,575 | ||||||||||
Total costs and expenses | 707,900 | 578,775 | ||||||||||
Net income | $ | 47,100 | $ | 61,225 | ||||||||
Earnings per share | $ | 2.92 | $ | 3.79 | ||||||||
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