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Simon Companys year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 31,200 $ 36,000 $ 37,800
Simon Companys year-end balance sheets follow.
At December 31 | Current Yr | 1 Yr Ago | 2 Yrs Ago | ||||||||
Assets | |||||||||||
Cash | $ | 31,200 | $ | 36,000 | $ | 37,800 | |||||
Accounts receivable, net | 89,800 | 61,500 | 49,000 | ||||||||
Merchandise inventory | 110,000 | 83,800 | 54,000 | ||||||||
Prepaid expenses | 10,700 | 9,300 | 4,300 | ||||||||
Plant assets, net | 280,000 | 258,000 | 230,000 | ||||||||
Total assets | $ | 521,700 | $ | 448,600 | $ | 375,100 | |||||
Liabilities and Equity | |||||||||||
Accounts payable | $ | 129,200 | $ | 75,750 | $ | 51,200 | |||||
Long-term notes payable secured by mortgages on plant assets | 97,500 | 101,750 | 84,000 | ||||||||
Common stock, $10 par value | 160,500 | 160,500 | 160,500 | ||||||||
Retained earnings | 134,500 | 110,600 | 79,400 | ||||||||
Total liabilities and equity | $ | 521,700 | $ | 448,600 | $ | 375,100 | |||||
The companys income statements for the Current Year and 1 Year Ago, follow.
For Year Ended December 31 | Current Yr | 1 Yr Ago | ||||||||||
Sales | $ | 715,000 | $ | 560,000 | ||||||||
Cost of goods sold | $ | 414,700 | $ | 352,800 | ||||||||
Other operating expenses | 221,650 | 134,400 | ||||||||||
Interest expense | 12,400 | 13,400 | ||||||||||
Income tax expense | 9,400 | 8,700 | ||||||||||
Total costs and expenses | 658,150 | 509,300 | ||||||||||
Net income | $ | 56,850 | $ | 50,700 | ||||||||
Earnings per share | $ | 3.54 | $ | 3.16 | ||||||||
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