Question
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
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 $ 33,329 $ 39,738 $ 40,586 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 97,564 68,859 55,208 123,882 90,092 59,978 10,518 10,124 4,510 299,606 278,169 253,818 $564,899 $ 486,982 $414,100 $137,847 $ 82,300 $ 54,661 104,077 162,500 160,475 110,886 162,500 162,500 131,296 106,338 90,601 $564,899 $ 486,982 $414,100 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 $734,369 $579,509 Cost of goods sold $447,965 $376,681 Other operating expenses 227,654 Interest expense 12,484 Income tax expense 9,547 146,616 13,329 8,693 Total costs and expenses 697,650 Net income $ 36,719 Earnings per share $ 2.26 545,319 $ 34,190 $ 2.10
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