t ences Exercise 13-10 (Algo) Analyzing efficiency and profitability LO P3 [Alternate Version] [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Current Year 1 Year Ago 2 Years Ago Cash Accounts receivable, net $ 30,800 86,700 $ 35,750 $ 38 62,500 50, d Merchandise inventory 113,000 83,400 54,000 9,500 252,000 Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable. Common stock, $10 par value Retained earnings Total liabilities and equity 11,000 278,000 $ 519,500 $ 128,800 97,000 $ 443,150 $73,000 99,000 163,000 108,150 163,000 138,700 $ 519,500 $ 443,150 5,500 232,000 $380,400 $ 50,600 80,200 163,000 86,600 $ 380,400 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Current Year $ 735,000 $ 433,650 227,850 11,400 9,450 1 Year Ago $ 610,000 $ 384,300 140,300 12,600 8,700