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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 $ 30,800 87,000 111,000 10,700 277,000 $516,500 $ 36,000 $ 37,000 62,500 51,000 82,400 54,000 9,450 4,900 248,500 226,000 $438,850 $ 372,900 $128,800 97,500 161,500 128,700 $516,500 $ 74,250 $ 50,200 98,500 82,000 161,500 161,500 104,600 79,200 $438,850 $ 372,900 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 Yr $ 735,000 $441,000 227,850 12,200 9,500 690,550 $ 44,450 1 Yr Ago $ 610,000 $384,300 140,300 13,000 8,800 546, 400 $ 63,600 $ 3.94 $ 2.75 Earnings per share (2) Total asset turnover. Total Asset Turnover Choose Numerator: Choose Denominator: Total Asset Turnover = Total asset turnover times Current Year: 1 Year Ago: times
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