Help Sau Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Y 1 Yr Ago 2 Yes 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 $ 38,267 89,000 113,000 12,323 377 117 $629,707 $ 44,731 $ 44,785 62,600 50,000 83,500 53,000 11, 742 4,976 340,278 286,439 $ 542,851 $ 439,200 $161,501 121,936 162,500 183, 770 $629,707 $ 94,494 $ 59,714 128,601 99,975 162,500 162,500 157, 256 117,011 $ 542,851 5 439,200 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 $818,619 $ 645,993 Cost of goods sold $ 499, 358 $ 419,895 Other operating expenses 253,772 163,436 Interest expense 13,917 14,858 Income tax expense 10,642 9,690 Total costs and expenses 777,689 607,879 Net income $ 40,930 $ 38, 114 Earnings per share 2.52 2.35 (2-a) Compute accounts receivable turnover. (2-b) For each ratio, determine if it improved or worsened in the current year. YU Help Save 253,772 13,917 10.642 Other operating expenses Interest expense Income tax expense Total costs and expenses Net Income Earnings per share 163,436 14,858 9,690 277,689 $ 40,930 $ 2.52 607,879 $ 38, 114 $ 2.35 (2-a) Compute accounts receivable turnover. (2-6) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Compute accounts receivable turnover. Accounts Receivable Turnover Choose Denominator: Choose Numerator: Accounts Receivable Turnover Accounts receivable tumover Current Yr: 1 Yr Ago: times times - Required 28 > 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 $ 818.619 $ 499,358 253, 772 13,917 10.642 777.689 $ 40,930 5 2.52 1 Yr Ago $ 645,993 $ 419,895 163,436 14,858 9,690 607,879 $ 38, 114 5 2.35 (2-a) Compute accounts receivable turnover. (2-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 2A Required 2B For each ratio, determine if it improved or worsened in the current year, Accounts recevable turnover Required 2A an Next >
