Simon Companys year-end balance sheets follow.

At December 31

2015

2014

2013

Assets

Cash

$

31,800

$

35,625

$

37,800

Accounts receivable, net

89,500

62,500

50,200

Merchandise inventory

112,500

82,500

54,000

Prepaid expenses

10,700

9,375

5,000

Plant assets, net

278,500

255,000

230,500

Total assets

$

523,000

$

445,000

$

377,500

Liabilities and Equity

Accounts payable

$

129,900

$

75,250

$

51,250

Long-term notes payable secured by mortgages on plant assets

98,500

101,500

83,500

Common stock, $10 par value

163,500

163,500

163,500

Retained earnings

131,100

104,750

79,250

Total liabilities and equity

$

523,000

$

445,000

$

377,500

Compute the current ratio for the year ended 2015, 2014, and 2013.?

?

Compute the acid-test ratio for the year ended 2015, 2014, and 2013.

The companys income statements for the years ended December 31, 2015 and 2014, follow. Assume that all sales are on credit:

For Year Ended December 31	2015						2014
Sales				$	673,500					$	532,000
Cost of goods sold	$	411,225					$	345,500
Other operating expenses		209,550						134,980
Interest expense		12,100						13,300
Income taxes		9,525						8,845
Total costs and expenses					642,400						502,625
Net income				$	31,100					$	29,375
Earnings per share				$	1.90					$	1.80

(1)

Compute days' sales uncollected.

2)

Compute accounts receivable turnover.

3)

Compute inventory turnover.

(4)

Compute days' sales in inventory.

The companys income statements for the years ended December 31, 2015 and 2014, follow.

For Year Ended December 31	2015						2014
Sales				$	673,500					$	532,000
Cost of goods sold	$	411,225					$	345,500
Other operating expenses		209,550						134,980
Interest expense		12,100						13,300
Income taxes		9,525						8,845
Total costs and expenses					642,400						502,625
Net income				$	31,100					$	29,375
Earnings per share				$	1.90					$	1.80

Calculate the companys long term risk and capital structure positions at the end of 2015 and 2014 by computing the following ratios.

(1)

Debt and equity ratios.

(2)

Debt-to-equity ratio.

3)	Times interest earned.