Simon Company's year-end balance sheets follow. At December 31 Assets Current Yr 1 Yr Ago 2 Yrs Ago $ 31,621 $ 36,962 $ 39,295 62,800 84,500 89,400 114,500 51,900 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 10,183 306,814 9,702 282,345 57,000 4,366 256,639 $552,518 $ 476,309 $ 409,200 $133,450 $ 78,081 $ 52,394 100,757 162,500 155,811 $552,518 106,265 162,500 129,463 87,720 162,500 106,586 $ 476,309 $ 409,200 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: For Year Ended December 31 Sales Other operating expenses Cost of goods sold Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Yr $ 438,147 222,665 $ 718,273 12,211 9,338 682,361 $ 35,912 $ 2.21 1 Yr Ago $ 566,808 $ 368,425 143,402 13,037 8,502 533,366 $ 33,442 $ 2.06