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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 Total assets Liabilities
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 Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity Current Yr 1 Yr Ago 2 Yrs Ago $ 31,400 $ 34,600 $ 36,300 63,900 57,900 89,500 57,396 84,700 54,600 11,020 9,570 390,684 272,230 3,450 167,750 $580,000 $465,000 $320,000 $147,308 $ 77,799 $ 42,240 111,221 106,950 70,013 162,500 162,500 162,500 158,971 117,751 45,247 $580,000 $465,000 $320,000 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Current Yr 1 Yr Ago $553,350 $754,000 Cost of goods sold $459,940 $359,678 Other operating expenses 233,740 Interest expense 12,818 Income tax expense 9,802 139,998 12,727 8,300 Total costs and expenses 716,300 Net income $ 37,700 Earnings per share $ 2.32 520,703 $ 32,647 2.01
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