Connect orcom/flow/connect.htrml?kRegstrue&re turnUrl-https%3A%2F%2Fconnect.mhed work Required information The following information applies to the questions displayed below] Simon Company's year-end balance sheets follow Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 31,880 35,625 37,800 89,see 62,500 5,200 112,560 82,50 54,880 5,000 278,500 255,800 23,588 $523,000 $445,800377,500 16,700 9,375 Liabilities and Equity Accounts payable Long-term notes payable secured by $129,980 $75,25e 51,25e mortgages on plant assets Common stock, $18 par value Retained earnings Total liabilities and equity 98,500 101,580 83,580 163,500 163,500 163,500 79,250 $523,000 $445,800 377,500 131,100 104,750 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 $ 673,580 532,000 $411,225 209,550 12,180 9,525 345,500 134,980 13,300 8,845 642,400 $ 31,100 S 1.90 502,625 $ 29,375 $1.80 Earnings per share KPrey10 11 12 of 16