Question
Required information Exercise 13-8 Analyzing and interpreting liquidity LO P3 [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets
Required information Exercise 13-8 Analyzing and interpreting liquidity LO P3 [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 Current Yr 1 Yr Ago 2 Yrs Ago $ 30,571 89,800 $ 35,735 $ 36,486 62,300 50,700 82,000 55,000 113,500 9,845 9,380 4,054 269,304 252,844 218,660 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 $513,020 $442,259 $364,900 $129,019 $ 75,489 $ 48,648 97,412 102,737 81,449 162,500 162,500 162,500 124,089 $513,020 101,533 72,303 $442,259 $364,900 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 Income tax expense Total costs and expenses Net income. Earnings per share Current Yr 1 Yr Ago $ 526,288 $ 666,926 $406,825 206,747 11,338 8,670 633,580 $ 33,346 $ 342,087 133,151 12,105 7,894 $ 2.05 495,237 $ 31,051 $ 1.91
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