[The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory. Prepaid expenses Plant assets, net Current Yr 1 Yr Ago 2 Yrs Ago $ 31,800 89,500 $ 35,625 $ 37,800 62,500 50,200 112,500 82,500 54,000 10,700 9,375 5,000 278,500 255,000 230,500 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets $ 523,000 $ 129,900 98,500. $445,000 $377,500 $ 75,250 $ 51,250 Common stock, $10 par value Retained earnings Total liabilities and equity 101,500 83,500 163,500 131,100 163,500 163,500 104,750 79,250 $ 523,000 $ 445,000 $377,500 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: For Year Ended December 31 Current Yr 1 Yr Ago $532,000 $673,500 $345,500 Sales Cost of goods sold $411,225 Other operating expenses 209,550 Interest expense 12,100 Income tax expense 9,525 134,980 13,300 8,845 Total costs and expenses. 642,400 Net income $ 31,100 502,625 $ 29,375 Earnings per share $ 1.90 $ 1.80