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plz help me with this qn thanks in advance Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets
plz help me with this qn thanks in advance
Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs 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 $ 27,351 89,900 112,500 8,808 215,931 $ 454, 490 $ 31,971 $ 32,324 62,600 50,500 82,500 55,000 8, 392 3,592 206,339 178,684 $ 391, 802 $ 320,100 $ 115,431 $ 67,539 $ 43,098 87, 153 162,500 89,406 $ 454,490 91,917 72,157 162,500 162,500 69,846 42,345 $ 391, 802 $ 320,100 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 Sales Cost of goods sold Other operating expenses Interest expense Current Yr $ 590,837 $ 360,411 183,159 10,044 1 Yr Ago $ 466, 244 $ 303,059 117,960 10,724 Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income $ 360,411 183, 159 10,044 7,681 $ 303,059 117,960 10,724 6,994 $ $ 561,295 29,542 1.82 438, 737 $ 27,507 $ 1.69 Earnings per share (3-a) Compute inventory turnover. (3-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 3A Required 3B Compute inventory turnover. Inventory Turnover 1 Choose Denominator: Choose Numerator: = Inventory Turnover 1 Inventory turnover Current Yr: / times 1 Yr Ago: 1 = timesStep by Step Solution
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