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Questions 15-18 [The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets follow. At December 31 2015 2014 2013 Assets Cash $ 35,614 $ 41,629 $ 42,088   Accounts receivable, net 89,000 62,700 58,800   Merchandise inventory 114,500 83,000 52,000   Prepaid expenses 11,469 10,928 4,676   Plant assets, net 341,206 311,906 259,236   Total assets $ 591,789 $ 510,163 $ 416,800   Liabilities and Equity Accounts payable $ 150,303 $ 87,942 $ 56,118   Long-term notes payable secured by   mortgages on plant assets 113,481 119,684 93,955   Common stock, $10 par value 162,500 162,500 162,500   Retained earnings 165,505 140,037 104,227   Total liabilities and equity $ 591,789 $ 510,163 $ 416,800   The company’s income statements for the years ended December 31, 2015 and 2014, follow. Assume that all sales are on credit:   For