Exercise 13-10 Analyzing efficiency and profitability LO P3 [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 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 $ 32,200 86,400 111,000 10,200 281,000 $520,800 $ 35,000 $ 38,200 61,000 50,000 80,200 54,500 9,350 5,000 248,500 230,000 $434,050 $ 377,700 $128,400 $ 73,000 $ 51,000 97,000 163,500 131,900 $520,800 100,500 82,600 163,500 163,500 97.050 80,600 $434,050 $ 377,700 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 Yr $775,000 $449,500 240, 250 11,500 9,550 710,800 $ 64,200 1 Yr Ago $ 630,000 $396,900 151,200 12,800 8,825 569,725 $ 60,275 Earnings per share $ 3.93 $ 3.69 For both the Current Year and 1 Year Ago, compute the following ratios: Exercise 13-10 Part 2 (2) Total asset turnover. Total Asset Turnover Choose Numerator: Choose Denominator: Total Asset Turnover (2) Total asset turnover Total Asset Turnover Choose Denominator Choose Numerator: Total Asset Turnover Total asset turnover Current Year: times 1 Year Ago: = times