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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. 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 Current Yr 1 Yr Ago 2 Yrs Ago $ 28,267 $ 33,041 $ 35,128 89,300 62,900 50,700 112,000 85,000 59,000 9,103 8,673 3,903 255,248 236, 177 217,069 $ 493,918 $ 425,791 $ 365,800 $ 119,296 $ 69,800 46,837 90,071 162,500 122,051 $ 493,918 94,994 78,412 162,500 162,500 98, 497 78,046 $ 425,791 $ 365,800 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 Yr 1 yr Ago Sales 642,09) $ 506,691 Cost of goods sold $ 391,677 $ 329,349 Other operating expenses 199,049 128,193 Interest expense 10,916 11,654 Income tax expense 8,342 7,600 Total costs and expenses 609.909 476,296 Net income $ 32,104 $ 29,895 1.98 $ Earnings per share 1.84 Compute days' sales uncollected. Days Sales Uncollected Choose Denominator: Choose Numerator: Daya Days' Sales Uncollected Days' Sales Uncollected o days 0 days Current Yr: 1 Yr Ago: X Required 18 ) For each ratio, determine if it improved or worsened in the current year. Days' sales uncollected Step by Step Solution
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