! Required information [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 Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Current Year 1 Year Ago 2 Years Ago $ 43,247 74,941 $ 35,910 107,232 130,858 11,564 329,227 $ 614,791 $ 153,083 113,269 163,500 184,939 99,029 11,241 301,534 $ 529,992 $ 88,673 120,679 163,500 157,140 $ 529,992 $ 42,010 57,156 62,101 4,763 266,970 $ 433,000 $ 57,156 96,650 162,500 116,694 $ 433,000 Total liabilities and equity $ 614,791

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required information
[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
Total assets
Liabilities and Equity
Accounts payable
Long-term notes payable
Common stock, $10 par value
Retained earnings
Current Year
1 Year Ago
2 Years Ago
$ 43,247
74,941
$ 35,910
107,232
130,858
11,564
329,227
$ 614,791
$ 153,083
113,269
163,500
184,939
99,029
11,241
301,534
$ 529,992
$ 88,673
120,679
163,500
157,140
$ 529,992
$ 42,010
57,156
62,101
4,763
266,970
$ 433,000
$ 57,156
96,650
162,500
116,694
$ 433,000
Total liabilities and equity
$ 614,791
Transcribed Image Text:! Required information [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 Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Current Year 1 Year Ago 2 Years Ago $ 43,247 74,941 $ 35,910 107,232 130,858 11,564 329,227 $ 614,791 $ 153,083 113,269 163,500 184,939 99,029 11,241 301,534 $ 529,992 $ 88,673 120,679 163,500 157,140 $ 529,992 $ 42,010 57,156 62,101 4,763 266,970 $ 433,000 $ 57,156 96,650 162,500 116,694 $ 433,000 Total liabilities and equity $ 614,791
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