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Simon Companys year-end balance sheets follow. At December 31...

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Accounting

Simon Companys year $-$ end balance sheets follow.

At December $31$ Current Year $1$ Year Ago $2$ Years Ago

Assets

Cash $ $30, 077$ $ $35, 516$ $ $36, 264$

Accounts receivable, net $91, 621 62, 782 48, 840$

Merchandise inventory $109, 604 82, 132 52, 540$

Prepaid expenses $9, 686 9, 511 4, 070$

Plant assets, net $279, 202 258, 499 228, 286$

Total assets $ $520, 190$ $ $448, 440$ $ $370, 000$

Liabilities and Equity

Accounts payable $ $130, 823$ $ $75, 028$ $ $49, 328$

Long $-$ term notes payable $99, 752 101, 078 80, 952$

Common stock, $ $10$ par value $162, 500 162, 500 162, 500$

Retained earnings $127, 115 109, 834 77, 220$

Total liabilities and equity $ $520, 190$ $ $448, 440$ $ $370, 000$

The companys income statements for the current year and one year ago, follow.

For Year Ended December $31$ Current Year $1$ Year Ago

Sales $ $676, 247$ $ $533, 644$

Cost of goods sold $ $412, 511$ $ $346, 869$

Other operating expenses $209, 637 135, 012$

Interest expense $11, 496 12, 274$

Income tax expense $8, 791 8, 005$

Total costs and expenses $642, 435 502, 160$

Net income $ $33, 812$ $ $31, 484$

Earnings per share $ $2.08$ $ $1.94$

$(3 -$ a $)$ Compute times interest earned for the current year and one year ago.

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