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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 Plant assets, net Total assets Current Yr 1 Yr Ago 2 Yrs Ago $ 40,899 $ 43,038 62,500 51,200 82,000 52,000 10,736 4,782 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 $ 34,989 90,000 112,000 11,268 356,885 $ 605,142 $ 147,667 111,491 162,500 183,484 $ 605,142 325,539 292,580 $ 521,674 $ 443,600 $ 86,400 $ 57,384 117,585 162,500 155,189 96,075 162,500 127,641 $ 521,674 $ 443,600 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 ercise 13-8 Part 4 Current Yr $ 786,685 $ 479,878 243,872 13,374 10,227 1 Yr Ago $ 620,792 747,351 $ 39,334 $ 403,515 157,060 14,278 9,312 584,165 $ 36,627 $ 2.42 $ 2.25
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