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Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Current Yr 1
Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Current Yr 1 Yr Ago 2 Yrs Ago $ 31,600 $ 34,100 $ 36,400 88,900 64,200 58,300 42,347 82,600 59,000 10,938 9,870 3,920 396,215 279,230 202,380 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 $570,000 $470,000 $360,000 $140,511 $ 79,430 $ 47,045 103,945 108,100 77,969 162,500 162,500 162,500 163,044 119,970 72,486 $570,000 $470,000 $360,000 For Year Ended December 31 Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses The company's income statements for the Current Year and 1 Year Ago, follow. Sales Current Yr $741,000 703,950 1 Yr Ago $363,545 141,503 12,864 8,390 $559,300 $452,010 229,710 12,597 9,633 Net income $ 37,050 526,302 $ 32,998 Earnings per share $ 2.28 $ 2.03
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