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Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable,
Required information [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 Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $ 32,981 95,588 $ 38,166 120,184 66,790 86,475 10,120 280,340 10,302 299,939 $558,994 $ 481,891 $141,973 107,193 163,500 146,328 $ 81,440 111,943 163,500 125,008 $ 558,994 $ 481,891 For both the current year and one year ago, compute the following ratios: 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 Current Year $ 726,692 $ 443,282 225,275 12,354 9,447 690,358 $ 36,334 $ 38,182 50,909 57,588 4,330 246,591 $ 397,600 $ 53,533 89,627 163,500 90,940 $ 397,600 1 Year Ago $ 372,743 145,083 13,189 8,602 $ 573,450 539,617 $ 33,833
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