10 Required information [The following information applies to the questions displayed below. Part 3 of 3 Simon Company's year-end balance sheets follow. Part 3 013 Current Yr 1 Yr Ago 2 Yrs Ago 2.14 points 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, $10 par value Retained earnings Total liabilities and equity $ 27,946 80,995 103,873 8,999 251,842 $473,655 $ 33,319 $ 33,687 56,022 43, 137 76,295 47, 361 8,661 3, 780 234, 026 208,935 $ 408,323 $ 336,900 Skipped $117,940 $ 68,317 $ 45,805 eBook 86,376 162,500 106,839 $473,655 92,975 162,500 84,531 $ 408,323 73, 710 162,500 54,885 336,900 001 Hint The company's income statements for the Current Year and 1 Year Ago, follow. Print References 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 Yr $615,752 $375, 609 190,883 10,468 8,005 584,965 $ 30,787 1 Yr Ago $ 485, 904 $315,838 122,934 11,176 7,289 457, 237 $ 28,667 $ 1.76 $ 1.89 For both the Current Year and 1 Year Ago, compute the following ratios: (3-a) Times interest earned. (3-b) Based on times interest earned, is the company more or less risky for creditors in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 3A Required 3B Times interest earned. Times Interest Earned Choose Numerator: Choose Denominator: Times Interest Earned Times interest earned Current Year: = times 1 Year Ago: 1 times Required 3A Required 3B > 10 Required information [The following information applies to the questions displayed below. Part 3 of 3 Simon Company's year-end balance sheets follow. Part 3 013 Current Yr 1 Yr Ago 2 Yrs Ago 2.14 points 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, $10 par value Retained earnings Total liabilities and equity $ 27,946 80,995 103,873 8,999 251,842 $473,655 $ 33,319 $ 33,687 56,022 43, 137 76,295 47, 361 8,661 3, 780 234, 026 208,935 $ 408,323 $ 336,900 Skipped $117,940 $ 68,317 $ 45,805 eBook 86,376 162,500 106,839 $473,655 92,975 162,500 84,531 $ 408,323 73, 710 162,500 54,885 336,900 001 Hint The company's income statements for the Current Year and 1 Year Ago, follow. Print References 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 Yr $615,752 $375, 609 190,883 10,468 8,005 584,965 $ 30,787 1 Yr Ago $ 485, 904 $315,838 122,934 11,176 7,289 457, 237 $ 28,667 $ 1.76 $ 1.89 For both the Current Year and 1 Year Ago, compute the following ratios: (3-a) Times interest earned. (3-b) Based on times interest earned, is the company more or less risky for creditors in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 3A Required 3B Times interest earned. Times Interest Earned Choose Numerator: Choose Denominator: Times Interest Earned Times interest earned Current Year: = times 1 Year Ago: 1 times Required 3A Required 3B >
