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[The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years
[The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 29,294 $ 32, 247 $ 34,969 Accounts receivable, net 79,958 57, 015 44,797 Merchandise inventory 101,568 74,572 50, 158 Prepaid expenses 9,342 8,989 3,771 Plant assets, net 261, 888 242, 737 212, 605 Total assets $ 482 , 050 $ 415 , 560 $ 346, 300 Liabilities and Equity Accounts payable $ 118, 830 $ 71, 634 $ 47, 083 Long-term notes payable 90, 625 97 , 490 76,532 Common stock, $10 par value 162,500 162 , 500 162,500 Retained earnings 110, 095 83,936 60, 185 Total liabilities and equity $ 482, 050 $ 415 , 560 $ 346, 300 The company's income statements for the current year and one year ago, follow. For Year Ended December 31 Current Year 1 Year Ago Sales $ 626, 665 $ 494,516 Cost of goods sold $ 382, 266 $ 321, 435 Other operating expenses 194, 266 125, 113 Interest expense 10, 653 11, 374 Income tax expense 8, 147 7, 418 Total costs and expenses 595, 332 465, 340 Net income $ 31,333 $ 29, 176 Earnings per share $ 1.93 $ 1. 80Times Interest Earned Numerator: Denominator: Times Interest Earned Times interest earned Current Year: times 1 Year Ago: times
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