3 Homework Simon Company's year-end balance sheets follow Current Ye 1 Y ARO2 Yrs A $36,157 104,794 137,082 11,526 329,463 $619,022 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-tere notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 41,410 42.705 73,963 59,287 93,723 67,516 11,543 5,038 388,001 275,154 $ 533,640 $444,780 $157,219 $ 92,891 $ 57,526 118,704 162,500 180,599 5619,022 126,419 98,279 162,500 162,500 151,830 126,395 $ 533,640 $444,700 The company's income statements for the Current Year and 1 Year Ago follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net Income Current Ye $804,729 $ 490,585 249,466 13,680 1 yr Ago 3.635,032 $412,771 160,663 14,600 764,492 $ 40,237 597.565 $ 37,467 a here to search 0 8 2 3 4. 5 6 7 00 8 9 0 W E R. . U P Homework The company's income statements for the Current Year and 1 Year Ago, follow 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 y $804,729 $490,085 249.466 13,650 10,461 764,492 40,237 1 Yr o $ 635,032 $412,271 160,663 14,686 597,565 $ 37,467 $ 2.31 $ 2.48 For both the Current Year and 1 Year Ago, compute the following ratios (3-a) Times interest earned. (3-6) 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 38 Times Interest earned. re to search O + $ 90 & 2 3 4. 5 6 7 00 9 o W E R V AP Required information Complete this question by entering your answers in the tabs below. Required 3A Required 38 Times interest earned. Times Interest Farned Choose Denominator: Choose Numerator: Times Interest Earned Times interest earned times times Current Year: 1 Year Ago Recul Required 38 > E to search * IDI $ 4 & 7 5 3 6 2 00 9 o T R. O Y P G K . //eromheducation.com/ex/map/index.html?con contexternal browser-launchurthttp%253A%252F%252Flamliberty.edu/6252Fwebapp252Fport mework Help Save & Exh Check Required information y WHILE YOU Complete this question by entering your answers in the tabs below. Required 3A Required 38 Based on times interest eamed, is the company more or less risky for creditors in the Current Year versus 1 Year Ago? (Required 3A Required 3 search 69 @ O & ( 4. 3 5 6 7 8 9 W O R. T C K