Simon Companys year-end balance sheets follow. December 31

Simon Company's year-end balance sheets follow 201 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets s 30,800 35,5e0 $ 37,000 88,400 61,500 50,580 112,500 81,200 53,5 10,800 9,300 5,10 276,000 258,500 232,0e $518,500 $446,000 378, 100 iabilities and Equity Accounts payable Long-term notes payable secured by $128,400 $ 74,000 50,400 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 96,500 98,25 82,600 162,000 162,000 162,00 83,100 131,600 111,750 $518,500 $446,000 378,100 The company's income statements for the years ended December 31, 2017 and 2016, follow For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income 2017 2016 $ 775,000 S 540,000 $480, 500 232,500 11,200 9,350 $ 345,600 124,200 12,700 8,550 733,550 s 41,450 491,050 s 48,956e