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fast response ill give thumbs up! thanks :) Required information [The following information applies to the questions displayed below] Simon Company's year-end balance sheets follow.
fast response ill give thumbs up! thanks :)
Required information [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 $ 30,600 86, 100 112,500 10,250 277,000 $516,450 $ 36,250 $ 37,000 62,000 49,500 83,000 53,500 9,450 4,000 253,000 228,000 $443, 700 $ 372,000 $ 130,000 $ 73,750 $ 50, 600 96,500 161,000 128,950 $516,450 99,000 81,600 161,000 161,000 109,950 78,800 $443,700 $ 372,000 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 Earnings per share Current Yr $715,000 $421,850 228,800 11,300 9,550 671,500 $ 43,500 $ 2.70 1 Yr Ago $ 570,000 $364,800 136, 800 13,300 8,625 523,525 $ 46, 475 $ 2.89 For both the Current Year and 1 Year Ago, compute the following ratlos: Profit margin ratio. Profit Margin Ratio Choose Denominator Choose Numerator 1 . Profit Margin Ratio Profit margin ratio % Current Year: 1 1 Year Ago: Required 18 > Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? Roturn on total assets Step by Step Solution
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