Ch 3 Homework 7. [The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow. Part 4 of 4 Current Yr 714 points At December 31 Assets Cash Accounts receivable, net Merchandise Inventory Prepaid expenses Plant assets, met Total assets Llabilities and Equity Accounts payable Long-ters notes payable secured by mortgages on plant assets Common stock, 51e par value Retained earnings Total liabilities and equity $ 31,800 89,500 112,50e 10,700 278 50e $ 523.000 1 yr Ago 2 Yrs Ago $ 35,625 $ 37,800 62,50 50,200 82,500 54,000 9,375 5,000 255.ee 230,50 $445,000 $ 377,500 Speed $ 129,900 $ 75,250 $ 51,250 eBooks 98,500 163,500 131,100 $ 523,000 101,500 83,500 163,500 163, see 104,250 79,250 $445,000 $ 377,500 The company's Income statements for the Current Year and 1 Year Ago follow. Assume that all sales are on credit: Print Current 5673,500 Deferences For Year Ended December 31 Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net Inco Earnings per share 209.550 12.100 1 Yr Ago $532,000 $ 145,500 134,980 1), 300 3.345 502,625 $ 29,375 $ 1.80 $31.100 (4-a) Compute days' sales in Inventory. (4-6) For each rato determine fit improved or worsened in the current year Complete this question by entering your answers in the tabs below. Required Required 45 Compute days' sales in inventory. Choose Numerator Sales Inventory 1 Choose Denominator Days Current Ye YA - - Days Sales In Inventory Casalesin inventory daya By Required 43 > 7 [The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow. Part 4 of 4 714 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, 510 par value Retained earnings Total 11bilities and equity Current Yr 1 Yr Ago 2 Yrs Ago $ 31,800 $ 35,625 $ 37,800 89,500 62, see se, 200 112,500 82,500 54, cee 10,700 9,375 5,000 278,500 255,000 230, 500 $ 523,000 $445,000 $ 377,500 Spoed $ 129,900 $ 75,250 $ 51,250 eBook 98,500 163,500 131,100 $ 523,000 101, see 83,500 163,500 163,500 106.750 79,25e $ 445,000 $ 377, see Hint Print References The company's Income statements for the Current Year and 1 Year Ago follow. Assume that all sales are on credit: For Year Ended December 31 Current 1 yr ago Sales 5673,500 $ 532.000 Cost of goods sold $411,225 $ 145,500 Other operating expenses 209.550 134,980 Interest expense 12.100 Income tax expense 8.845 Total costs and expenses 642,400 502.625 Not Income 5 31.100 29,375 Earnings per share $ 1.90 5 - 1.8 13.300 (4-a) Compuse days sales in inventory (4-6) For och ratio determine if it improved or worsened in the current year Complete this question by entering your answers in the tabs below. Dequired 40 For each ratio determine if it improved or worsened in the current year Dwys sales inventory
