Simon Company's year-end balance sheets follow. At December 31 Assets Current Yr 1 Yr Ago 2 Yrs Ago Cash Accounts receivable, net Merchandise inventory Prepaid expenses $ 28,547 82,738 $ 33,041 $ 34,405 58,395 43,646 104,027 77,165 48,390 9,283 8,588 3,674 Plant assets, net 249,763 231,740 207,285 Total assets $474,358 $ 408,929 $ 337,400 Liabilities and Equity Accounts payable $116,934 $ 69,109 $ 44,091 Long-term notes payable secured by mortgages on plant assets 87,396 Common stock, $10 par value 162,500 94,994 162,500 Retained earnings 107,528 82,326 76,802 162,500 54,007 Total liabilities and equity $474,358 $ 488,929 $ 337,400 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 $616,665 $ 486,626 Cost of goods sold $376,166 $316,307 Other operating expenses 191,166 Interest expense 10,483 Income tax expense 8,017 123,116 11,192 7,299 Total costs and expenses 585,832 Net income $ 30,833 457,914 $ 28,712 Earnings per share $ 1.90 $ 1.77