Exercise 13-10 (Algo) Analyzing efficiency and profitability LO P3 [Alternate Version]

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Simon Companys year-end balance sheets follow.

(ALT TEXT: At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 31,200 $ 35,750 $ 37,600 Accounts receivable, net 87,000 63,500 49,500 Merchandise inventory 110,000 80,200 53,000 Prepaid expenses 10,950 9,300 4,700 Plant assets, net 277,000 257,000 234,000 Total assets $ 516,150 $ 445,750 $ 378,800 Liabilities and Equity Accounts payable $ 129,200 $ 76,000 $ 50,200 Long-term notes payable 97,500 100,750 80,800 Common stock, $10 par value 161,500 161,500 161,500 Retained earnings 127,950 107,500 86,300 Total liabilities and equity $ 516,150 $ 445,750 $ 378,800 The companys income statements for the Current Year and 1 Year Ago, follow.

For Year Ended December 31 Current Year 1 Year Ago Sales $ 755,000 $ 560,000 Cost of goods sold $ 468,100 $ 358,400 Other operating expenses 234,050 134,400 Interest expense 11,300 13,200 Income tax expense 9,400 8,625 Total costs and expenses 722,850 514,625 Net income $ 32,150 $ 45,375 Earnings per share $ 1.99 $ 2.81 For both the Current Year and 1 Year Ago, compute the following ratios:)

Exercise 13-10 (Algo) Part 2 [Alternate Version]

(2) Compute total asset turnover for the current year and one year ago.

The company's income statements for the Current Year and 1 Year Ago, follow. For both the Current Year and 1 Year Ago, compute the following ratios: (2) Compute total asset turnover for the current year and one year ago