Required information Exercise 13-10 (Static) Analyzing efficiency and profitability LO P3 [Alternate Version] [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Current Year 1 Year Ago 2 Years Ago $ 35,625 62,500 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 98,500 163,500 131,100 Accounts payable $ 129,900 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 82,500 9,375 255,000 $ 445,000 $ 75,250 101,500 163,500 104,750 $ 523,000 $ 445,000 $ 37,800 50,200 54,000 5,000 230,500 $ 377,500 $ 51,250 83,500 163,500 79,250 $ 377,500 The company's income statements for the current year and 1 year ago, follow. For Year Ended December 31 Sales Cost of goods sold Interest expense Income tax expense Other operating expenses Total costs and expenses Net income Earnings per share Current Year $ 673,500 $ 411,225 209,550 12,100 9,525 1 Year Ago $ 532,000 642,400 $ 31,100 $ 1.90 $ 345,500 134,980 13,300 8,845 For both the Current Year and 1 Year Ago, compute the following ratios: 502,625 $ 29,375 $ 1.80 Exercise 13-10 (Static) Part 2 [Alternate Version] (2) Compute total asset turnover for the current year and one year ago. Current Year: 1 Year Ago: Total Asset Turnover Numerator: Denominator: = Total Asset Turnover = Total asset turnover 1 1 = times = times