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If someone can answer everything that would be awesome thank you. ! Required information [The following information applies to the questions displayed below.) Simon Company's
If someone can answer everything that would be awesome thank you.
! Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Year 1 Year Ago 2 Years 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 27,975 77,901 100,943 8,832 249, 205 $ 464,856 $ 32,700 56,103 74,878 8,331 228,726 $ 400,738 $ 32,088 44,081 46,026 3,565 201,640 $ 327,400 $ 118,064 84,771 162,500 99,521 $ 464,856 $ 67,725 90, 326 162,500 80, 187 $ 400,738 $ 44,081 73,079 162,500 47,740 $ 327,400 For both the current year and one year ago, compute the following ratios: The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: 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 Year $ 604,313 $ 368,631 187,337 10,273 7,856 574,097 $ 30,216 1 Year Ago $ 476,878 $ 309,971 120,650 10,968 7,153 448,742 $ 28,136 $ 1.86 $ 1.73 (1-a) Compute days' sales uncollected. (1-b) Determine if days' sales uncollected improved or worsened in the current year. (2-a) Compute accounts receivable turnover. (2-b) Determine if accounts receivable turnover ratio improved or worsened in the current year. (3-a) Compute inventorv turnover. Required information TULAI LUSLS alu experises Net income Earnings per share $ 28,136 $ 30,216 $ 1.86 $ 1.73 (1-a) Compute days' sales uncollected. (1-b) Determine if days' sales uncollected improved or worsened in the current year. (2-a) Compute accounts receivable turnover. (2-b) Determine if accounts receivable turnover ratio improved or worsened in the current year. (3-a) Compute inventory turnover. (3-b) Determine if inventory turnover ratio improved or worsened in the current year. (4-a) Compute days' sales in inventory. (4-6) For each ratio, determine if days' sales in inventory improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Required 3A Required 38 Required 4A Required 4B Compute days' sales uncollected. Numerator: Days Days' Sales Uncollected Denominator: 1 1 1 Days' Sales Uncollected Days' sales uncollected 0 days 0 days Current Year: 1 Year AgoStep by Step Solution
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