Question
Current Year 1 Year Ago 2 Years Ago Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory
Current Year 1 Year Ago 2 Years Ago Simon Company's year-end balance sheets follow. 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,000 88,000 112,000 10,850 277,000 $ 518,850 $ 128,400 95,500 $ 36,250 61,500 83,800 9,300 257,500 $ 448,350 $ 75,250 99,000 163,500 131,450 163,500 110,600 $ 518,850 $ 448,350 $ 37,600 50,000 53,000 4,500 226,000 $ 371,100 $ 50,800 82,800 163,500 74,000 $ 371,100 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 Current Year $ 408,900 218,550 11,200 1 Year Ago $ 705,000 $ 640,000 $ 409,600 153,600 13,300 Total costs and expenses Net income Earnings per share 9,350 648,000 $ 57,000 $ 3.49 For both the Current Year and 1 Year Ago, compute the following ratios 8,750 585,250 $ 54,750 $ 3.35 S 338
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