Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Current Year 1 Year Ago 2 Years Ago 8,789 234,319 $ 471,999 3,730 207,301 $ 346,000 $ 27,291 89,600 112,000 $ 31,901 $ 33,569 62,900 82,000 50,400 51,000 8,374 221,721 $406,896 Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 471,999 $ 406,896 74,937 162,500 63,804 $ 346,000 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Current Year $ 613,599 $ 374,295 190,216 10,431 7,977 1 Year Ago $ 484,206 $ 314,734 122,504 11,137 7,263 $ 115,177 86,961 162,500 $ 67,390 $ 44,759 107,361 91,714 162,500 85,292