Sales Cost of Roods sold Accounts receivable 2019 2018 2017 2016 2015 $ 682,763 $ 455, 175 $ 362,689 S 245,891 $ 176,909 350, 759 233639 188,371 126,584 90, 219 33,046 26,628 24,735 14,434 12,135 Compute trend percents for the above accounts, using 2015 as the base year Choose Numerator: Trend Percent for Net Sales: | Choose Denominator: Trend percent 2019: 2018: = % % 2017: 2016: #1 %6 % Trend Percent for Cost of Goods Sold: Choose Numerator: Choose Denominator: Trend percent % 2019: 2018: : % 2017: IF % 2016: 9 Trend Percent for Accounts Receivables Choose Numerator: Choose Denominator 94 11 2018: 2017: 2016: % % HI % Trend Percent for Cost of Goods Sold: | Choose Denominator: Choose Numerator: Trend percent 2019: 2018: 1 % 96 2017: 2016: # #111 % % Trend Percent for Accounts Receivables: Choose Denominator: Choose Numerator: Trend percent % 2019: 2018: 2017: 2016: #111 % 96 % Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net in Income Statement Reason for Decline in Net Income Express the following comparative income statements in common-size percents. (Round your per decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % % $ 785,000 $ 635,000 562,700 293,200 222,300 341,800 129,200 268,400 $ 93,100 $ 73,400 Sales Cost of goods sold Gross profit Operating expenses Net income Reason for Decline in Net Income 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 32,663 95,604 115,490 10,519 293,851 $ 548, 127 $ 37,846 $ 38,685 67,476 49,454 88,291 52,658 9,725 4,121 269,985 237,462 $ 472,523 $ 382,300 $ 136,484 $ 79,856 $ 51,473 105, 109 162,500 144,034 $ 548,127 107,593 87,023 162,500 162,500 122,574 81,304 $ 472,523 $ 382,300 (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio Choose Denominator: Choose Numerator: Current Ratio = Current ratio II Current Yr: 1 Yr Ago: 2 Yrs Ago: = = to 1 to 1 to 1 Required Required 1B > Help Save & Exi Check (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 28 Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: Choose Denominator: + + Acid-T Acid- + Current Yr: 1 Yr Ago: 2 Yrs Ago + + + ### + 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 $ 28,004 89,000 113,500 9,018 239,912 $ 479,434 $ 32,734 $ 34,898 63, eee 51,400 84, eee 51,000 8,593 3,789 224,978 207,613 $ 413,305 $ 347,900 $ 118,185 $ 69,150 $ 45,464 89,232 162,500 109,517 $ 479,434 94,110 76, 117 162,500 162,500 87,545 63,819 $ 413,305 $ 347,900 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are 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 $ 623,264 $ 380, 191 193,212 10,595 8,102 592,100 $ 31,164 1 Yr Ago $ 491,833 $ 319,691 124,434 11, 312 7,377 462,814 $ 29, 019 $ 1.92 $ 1.79 (1-a) Compute days' sales uncollected. (1-6) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Compute days' sales uncollected. Choose Numerator: Days' Sales Uncollected 1 Choose Denominator: 1 X Days Days' Sales Days' Sales Current Yr: 1 Yr Ago: = = Required Required 1B > Simon Company's year-end balance sheets follow current YH 1 Ye 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, $1e par value Retained earnings Total liabilities and equity $ 28,004 89,000 113,500 9, 018 239,912 $ 479,434 $ 32,734 $ 34,098 63,000 51,400 84,000 51,000 8,593 3,789 224,978 207,613 $ 413,305 $ 347,900 $ 118,185 $ 69,150 $ 45,464 89, 232 162,500 109,517 $ 479,434 94, 110 76,117 162,500 162,500 87,545 63,819 $ 413,305 $ 347,989 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are 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 $ 623,264 $ 380, 191 193,212 10,595 8,102 592,100 $ 31,164 1 Yr Ago $ 491,833 $ 319,691 124,434 11, 312 7, 377 462,814 $ 29,019 $ 1.79 $ 1.92 (2-a) Compute accounts receivable turnover. 2-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Compute accounts receivable turnover. Accounts Receivable Turnover Choose Numerator: Choose Denominator: Accounts Receivable Tu Accounts receivable turr Current Yr: 1 Yr Ago: times times Required Required 2B> 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 $ 28,004 89,000 113,500 9,018 239,912 $ 479, 434 $ 32,734 $ 34,098 63,000 51,488 84, ee 51, eee 8,593 3,789 224,978 207,613 $ 413,385 $ 347,900 $ 118,185 $ 69,150 $ 45,464 89,232 162,500 129,517 $ 479,434 94, 110 76,117 162,500 162,500 87,545 63,819 $ 413,305 S 347,900 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on a 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 $ 623,264 $ 380, 191 193,212 10,595 8,102 592/100 $ 31,164 1 Yr Ago $ 491,833 $ 319,691 124,434 11, 312 7,377 462,814 $ 29819 S 1192 $ 1.79 3-6) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute inventory turnover. Inventory Turnover Choose Numerator: Choose Denominator: Inventory Turnover Inventory turnover Current Yr: 7 = times 1 Yr Ago: 7 times REUTERS Required 3B > 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 $ 28,004 89, eee 113,500 9,018 239,912 $ 479,434 $ 32,734 $ 34,098 63,080 51,400 84,800 51,080 8,593 3,789 224,978 207,613 $ 413, 385 $ 347,988 $ 118,185 $ 69,150 $ 45,464 89,232 162,500 109,517 $ 479,434 94, 110 76,117 162,500 162, see 87,545 63,819 $ 413,385 $ 347,9ee The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are 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 $ 623,264 $ 380, 191 193,212 10,595 8,102 592, 100 $ 31,164 1.92 1 Ye Ago $ 491,833 $ 319,691 124, 434 11, 312 7,377 462,814 $ 29,019 $ 1.79 (4-a) Compute days' sales in inventory. (4-6) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 4A Required 4B Compute days' sales in inventory. Days' Sales In Inventory Choose Numerator: 1 Choose Denominator: / / Days = X = Days' Sales In Inventory Days' sales in inventory days days Current Yr: 1 Yr Ago: Required Required 4B >