TV At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, sie par value Retained earnings Total liabilities and equity Current yr 1 Yr Ago 2 Yrs Ago $ 25,284 $ 29,555 5 30,177 89,500 62,880 50,790 112,500 84,500 55,000 8,142 7.758 3,353 188,881 181.169 162,570 $424,307 5 365,782 $301,800 $106,799 80,567 162,500 74,531 $424,307 $ 62,435 $ 40,236 84,971 67,365 162,500 162,580 55,876 31,699 $365,782 $ 301,880 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 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current yn $ 551,599 $ 336,475 170,996 9,377 7,171 524,019 $ 27.580 $ 1.78 1 yr ago $ 435,281 $ 282,933 110,126 10,011 6,529 409,599 $ 25,682 5 1.58