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Exercise 13-6 Com men-size percents LO P2 Simon Company's year-end balance sheets follow. At December 31 2015 2014 2013 Assets Cash 35 33,984 $ 39,701 $ 40,155 Accounts receivable, net 98,438 70,894 54,080 Merchandise inventory 123,787 95,558 59,341 Prepaid expenses 11,498 10,528 4,482 Plant assets, net 319,748 289,710 2513362 Total assets 3 567,411 $508,389 $ 409300 Llabllltles and Equity Accounts payable $ 150,853 $ 83,012 $ 54,821 Long-term notes payable secured by mortgages on plant assets 107,120 115,305 92,355 Common stock, $10 par value 163,500 163,500 1635\"\" Retained earnings 188,138 144,572 99,224 Total liabilities and equity $ 587,411 $ 508,389 $ 409'700 Express the balance sheets in common-size percents. (Do not round Intermediate calculations and round your nal percentage answers to 1 decimal place.) Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par Retained earnings Total liabilities and equity 0513-3 Horizontal analysis LO P1 Compute the annual dollar changes and percent changes for each of the following accounts. (Round percent change to one declmal place.) 2015 2014 Short-term investments $380,834 $240,061 Accounts receivable 103,020 106,337 Notes payable 0 94,802 summumtmem as 380.834 $24M mm renewable WG m payable 94302 The following information is for Tide Corporation: {$ thousands) 2015 2014 Net sales $947,760 $359,000 Cost of goods sold 464,402 '1 06,264 Determine the 2014 and 2015 trend percents for net sales using 2014 as the base year. (Enter your answers In thousands.) Exercise 13-11 Protability analysis LO P3 Simon Company's year-end balance sheets follow. At December 31 201 5 2014 2013 Assets Cash $ 31,600 $ 34,000 $ 36,700 Accounts receivable, net 88,600 64,100 51,800 Merchandise inventory 64,977 84,800 59,700 Prepaid expenses 10,659 9,148 3,628 Plant assets, net 354,154 247,952 133'172 Total assets $550,000 $440,000 $ 340,000 Llabllltles and Equity Accounts payable $141,059 $ 73,616 $ 46,226 Long-term notes payable secured by mortgages on plant assets 105,468 100,188 75,891 Common stock, $10 par value 152,500 152,500 162500 Retained earnings 140,973 103,696 55,363 Total liabilities and equity $550,000 $440,000 $ 340'000 The company's income statements for the years ended December 31, 2015 and 2014, follow. For Year Ended December 31 201 5 201 4 Sales $ 715,000 $523,600 Cost of goods sold $436,150 $340,340 Other operating expenses 221,650 132,471 Interest expense 12,155 12,043 Income taxes 9,295 7,854 Total costs and expenses 679,250 492,708 Net income $ 35,750 $ 30,692 Earnings per share $ 2.20 $ 1.90 Additional information about the company follows. As gnment 133 (10 pts) 6 9 C' l(Dezto.mheducation.com/hm.tpx Q {H ' I e Additional Infomeon about the company follows. Comma" mck market prloe, December 31. 2015 $29.00 Common amok mam price, December 51. 2014 27.00 Annual Ilsh dlvldands per sham In 2015 0.22 Annual cash dlvidam per share In 2014 0 11 To help evaluene the companys pmfi'ablllty, mm the mnmng rams for 2015 and 2014: (\"mm on common moweers' equity. I = Return an camman moldem' equily 201 5 - I = 56 2014 - I = 5' (2) Friee-eeminge rao on December 31. (Mum! your mew-re m z mlmll elem.) I = Pneeeamings ratio 2015 I = 2014 I = (a) Dividend yield (Round your Inmn 1o 2 doclmll plum) I Dlvldand yield 101 5 l ' % 2014 I * Exercise 13-7 Liquidity analysis L0 P3 Simon Company's year-end balance sheets follow. At December 31 2015 2014 2013 Assets Cash $ 35,565 $ 40,756 $ 42,687 Accounts receivable, net 105,221 75,734 57,163 Merchandise inventory 126,366 99,106 62,149 Prepaid expenses 11,691 11,029 4,962 279,419 Plant assets, net 326,371 296,577 Total assets $609,234 $525,202 $ 446'600 Llabllltles and Equity Accounts payable $153,216 $ 91,422 $ 57,772 Long-term notes payable secured by mortgages on plant assets 111,100 123,212 96,699 Common stock, $10 par value 162,500 162,500 \"2'50\" Retained earnings 132,413 146,066 1271629 Total liabilities and equity $609,234 $525,202 $ 446'600 (1) Compute the current ratio for the year ended 2015. 2014. and 2013. --E Simon Company's yearend balance sheets follow. At December 31 2015 2014 2013 Assets Cash $ 31,800 $ 35,625 $ 37.800 Accounts receivable. net 89.500 62.500 50,200 Merchandise inventory 112.500 82.500 54.000 Prepaid expenses 10,700 9,375 5.000 Plant assets. net 278.500 255.000 230500 Total assets $523,000 $445,000 $377,500 Liabilities and Equity Accounts payable $129,900 $ 75,250 $ 51.250 Longterm notes payable secured by mortgages on plant assets 98.500 101.500 83,500 Common stock, $10 par value 163.500 163,500 163,500 Retained earnings 131.100 104,750 79,250 Total liabilities and equity $523,000 $ 445,000 $377,500 The company's income statements for the years ended December 31. 2015 and 2014. follow. Assume that all sales are on credit: For Year Ended December 31 2015 2014 Sales $673,500 $ 532000 Cost of goods sold $ 411,225 $345,500 Other operating expenses 209,550 134,980 Interest expense 12,100 13,300 Income taxes 9.525 8,845 Total costs and expenses 642,400 502'625 Net income $ 31,100 $ 29,375 Earnings per share $ 1.90 $ 1.80 Refe ren CBS Exercise 13-8 Part1 (1) Compute days' sales uncollected. --ll-H mIn-na mIn-na Hints References eBcok 8. Resources Hint #1 Check my work value: 0.50 pclnu; Exercise 13-8 Part 2 (2] Compute accounts receivable turnover. Accounts receivable turnover times H_"m _ Ass nment 133 (10 pts) 6 9 C' '(Dez'to.mheducation.com/hm.tpx Q {H . I G Hlm Moreno\" eBook I Rnouml Hint #1 Check my work 5' value: Required lnfonvleon 0.50 polms Emerclse 138 Pan 3 (a) Compule invantnry lumwer. I = lmenlely hummer ms: I = mes an\": I = mes Hlm Moreno\" eBuak l Rnoumoa HinNH Check m1 wnrk 6 value: Requlled Infommion ' 0'40 palms