Answered step by step
Verified Expert Solution
Question
1 Approved Answer
3 Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago Part 1 of 4 At December 31 Assets Cash Accounts
3 Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago Part 1 of 4 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 $ 26,521 90,000 112,500 8,541 225, 841 $463, 403 $ 31,000 $ 32,957 62,600 51,000 84,500 53,000 8,138 3,662 213, 247 202,581 $ 399,485 $ 343,200 14.28 points $111,926 S 65,488 $ 43,943 eBook 84,506 162,500 104,471 $ 463, 403 89,125 73,572 162,500 162,500 82,372 63,185 $ 399,485 $ 343,200 00 Hint The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: 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 Current Yr $ 602, 424 $ 367,479 186,751 10,241 7,832 572, 303 $ 30,121 1 Yr Ago $ 475, 387 $ 309,002 120,273 10,934 7,131 447,340 $ 28,047 Earnings per share $ 1.85 $ 1.73 (1-a) Compute days' sales uncollected. (1-6) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Compute days' sales uncollected. Days' Sales Uncollected
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started