Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago 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 $ 26,742 $ 31,259 $ 31,917 89,600 113,500 62,900 8,612 210,315 50,900 82,500 50,000 8,206 3,546 202,005 182,837 $448,769 $ 386,870 $319,200 $112,861 $ 66,035 $ 42,556 85,212 162,500 89,870 162,500 68,465 71,249 162,500 42,895 88,196 $448,769 $ 386,870 $ 319,200 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Current Yr $ 583,400 $ 355,874 180,854 1 Yr Ago $ 460,375 $ 299,244 116,475 10,589 9,918 7,584 6,906 554,230 $ 29,170 433,214 $ 27,161 $ 1.80 $ 1.67