Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

just the two graphs please 4 The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow Part 1 of 2

image text in transcribed
image text in transcribed
image text in transcribed just the two graphs please
4 The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow Part 1 of 2 Current YEYE Ago 2 Yes Ago 11.42 points At December 31 Assets Canh Accounts receivable. net Merchandise Inventory Prepaid expenses Plant Assets, net Total assets Liabilities and quity Accounts payable Long-term notes payable secured by mortgages on plant annet Common stock, 010 par valve Retained earnings Total liabilities and equity $ 32,162 89,200 113.000 10,357 317,251 5561,970 $ 37,594 $ 39,960 62.300 51.000 83.000 32,000 0.441 291.695 268.791 3 484,457 $ 416,200 pok $135,739 102,481 162,500 161,256 5561.970 $ 79,417 553,290 106,002 89.22: 162,500 162.500 134.458 111, 189 5 484,457 5 416,200 Print Hences The company's income statements for the Current Year and 1 Year Ago follow. Assume that all sales are on credit: Yor Year Inded December 31 Sales Coat of goods sold Other operating experies Interest expense Income tax expense Total cost and expenses Not Income Earnings per share Current Y $ 730,561 $445,642 226,474 12,420 9,492 694,033 36,520 1 YAO $ 576,504 $ 374,728 145,856 13,260 542.492 34,012 2.00 2.25 (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. Reguljed 2A Required 28 Compute accounts receivable turnover, Accounts Receivable Turnover 7 Choose Denominator: Choose Numerator = Accounts Receivable Turnover Accounts receivable turnover 1 1 Current Yr: O times 1 Yr Ago: O times Required 28 > (1-a) Compute days' sales uncollected. (1-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 1A Required 18 Compute days' sales uncollected Days! Sales Uncollected Choose Denominator: Choose Numerator x Days X Days Salos Uncollected Days' Sales Uncollected 0 days 0 days Current Yr 1 Yr Ago: Boge 1 Required 18 >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Contemporary Auditing Real Issues And Cases

Authors: Michael C. Knapp, Loreen Knapp

5th Edition

032418834X, 978-0324188349

More Books

Students also viewed these Accounting questions