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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
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 $ 31,800 89,5ea 112,500 18,789 278,588 $523,00 $ 35,625 $ 37,892 62,50 52,200 82,500 54,202 9.375 5.Bee 255,aea 238,500 $445,228 $ 377,502 $129,900 $ 75,250 $ 51,250 98,500 163,59 131, 100 $523,00 181,50 83.500 163,500 163,500 184,75e 79.252 $445,228 $ 377,502 The company's income statements for the current year and 1 year ago, follow. 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 $673,50 $411,225 289,550 12,100 9.525 642,480 $ 31,180 1 Yr Ago $ 532,202 $345,50 134,989 13,300 8.845 se2,625 $ 29,375 $ 1.90 $ 1.se For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. (1-1) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 1A Required 13 Profit margin ratio. Profit Margin Ratio 1 Choose Denominator. Cost of goods sold Choose Numerator: Net sales = Profit Margin Ratio Profit margin ratio 0 % 0 % S 673,500 Current Year: 1 Year Ago:
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