Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Current Yr 1 Yr Ago 2 Yrs Ago $ 30,600 $ 35,500 $ 37,800 86,600 61,500 50,500 112,000 82,800 52,500 10,450 9,400 5,400 Plant assets, net 277,000 249,000 229,000 Total assets $516,650 $438,200 $375,200 Liabilities and Equity Accounts payable $129,200 $ 75,250 $ 50,200 Long-term notes payable secured by mortgages on plant assets 96,500 100,250 81,600 Common stock, $10 par value 163,500 163,500 163,500 Retained earnings 127,450 99,200 79,900 Total liabilities and equity $516,650 $438,200 $375,200 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Current Yr 1 Yr Ago Sales $715,000 $640,000 Cost of goods sold $450,450 $403,200 Other operating expenses 228,800 153,600 Interest expense 12,100 12,500 Income tax expense 9,550 8,700 Total costs and expenses 700,900 Net income $ 14,100 578,000 $ 62,000 Earnings per share $ 0.86 $ 3.79