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! 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

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! 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 annets, bet Total asseta 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 $ 31,800 89,500 112,500 10,700 278,500 $523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230, 500 $445,000 $377,500 $129,900 $ 75,250 $ 51,250 98,500 163,500 131, 100 $523,000 101,500 83,500 163,500 163,500 104,750 79.250 $445,000 $377,500 The company's income statements for the current year and 1 year ago, follow. Tor Year Ended December 31 Balea Cost of goodu sold Other operating expenses Interest expense Income tax expense Current Yr $673,500 $411,225 209,550 12,100 9,525 642.400 1 Ye Ago $532,000 $345,500 134,980 13,300 8,845 502.625 For both the Current Year and 1 Year Ago, compute the following ratios: (2) Total asset turnover. Total Asset Turnover Choone Denominator: Choose Numerator Total Assat Turnover Total asset turnover times Current Year: 7 1 Year Ago: 1 times

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