{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T01:03:35-04:00", "answer_date": "2024-05-27 01:03:35", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1769066", "url": "\/study-help\/questions\/simon-companys-yearend-balance-sheets-follow-at-december-31-assets-1769066", "question_creation_date_js": "2024-05-27T01:03:35-04:00", "question_creation_date": "May 27, 2024 01:03 AM", "meta_title": "[Solved] Simon Company's year-end balance sheets f | SolutionInn", "meta_description": "Answer of - Simon Company's year-end balance sheets follow At December 31 Assets Cash Accounts receivable, Current Yr 1 Yr Ago 2 Y | SolutionInn", "meta_keywords": "simon,company,s,year-end,balance,sheets,follow,december,31,assets,cash,accounts", "question_title_h1": " Simon Company's year-end balance sheets follow At December 31 Assets Cash Accounts receivable, Current Yr 1 Yr Ago 2 Yrs Ago $28,019 $ 31,779", "question_title": " Simon Company's year-end balance sheets follow At December 31 Assets Cash", "question_title_for_js_snippet": "Simon Company's year end balance sheets follow At December 31 Assets Cash Accounts receivable, Current Yr 1 Yr Ago 2 Yrs Ago $28,019 $ 31,779 $ 34,117 78,796 58,451 44,138 net Merchandise inventory 100,082 74,239 48,450 Prepaid expenses 8,934 8,683 3,753 Plant assets, net 254,378 232,194 210,742 Total assets $470,201 $405,346 $341,200 Accounts payable Long term notes Liabilities and Equity payable secured by $118,251 $ 66,448 $45,038 mortgages on plant assets 90,166 96,026 76,159 Common stock, $10 par 162,500 162,500 162,500 value Retained earnings 99,284 88,372 57,503 Total liabilities and $470,201 $405,346 $341,200 equity The company's income statements for the Current Year and 1 Year Ago, follok For Year Ended Current Yr December 31 1 Yr Ago Sales $611,261 $482,362 Cost of goods $372,869 $313,535 sold Other operating 189,491 expenses Interest expense 10,391 122,038 11,094 Income tax 7,946 7,235 expense Total costs and 580,697 453,982 expenses Net income $ 30,564 $ 28,460 Earnings per $ 1 88 $ 1 75 share For both the Current Year and 1 Year Ago, compute the following ratios (3 a) Times interest earned (3 b) Based on times interest earned, is the company more or less risky for creditors in the Current Year versus 1 Year Ago Complete this question by entering your answers in the tabs below Required Required 3A 38 Times interest earned Current Year 1 Year Ago Times Interest Earned Choose Denominator Interest expense Choose Numerator Income before interest and income tax A (Required 38 Required 38 Times Interest Earned Times interest eamed oltimes O times", "question_description": "\"image", "transcribed_text": "Simon Company's year-end balance sheets follow At December 31 Assets Cash Accounts receivable, Current Yr 1 Yr Ago 2 Yrs Ago $28,019 $ 31,779 $ 34,117 78,796 58,451 44,138 net Merchandise inventory 100,082 74,239 48,450 Prepaid expenses 8,934 8,683 3,753 Plant assets, net 254,378 232,194 210,742 Total assets $470,201 $405,346 $341,200 Accounts payable Long-term notes Liabilities and Equity payable secured by $118,251 $ 66,448 $45,038 mortgages on plant assets 90,166 96,026 76,159 Common stock, $10 par 162,500 162,500 162,500 value Retained earnings 99,284 88,372 57,503 Total liabilities and $470,201 $405,346 $341,200 equity The company's income statements for the Current Year and 1 Year Ago, follok For Year Ended Current Yr December 31 1 Yr Ago Sales $611,261 $482,362 Cost of goods $372,869 $313,535 sold Other operating 189,491 expenses Interest expense 10,391 122,038 11,094 Income tax 7,946 7,235 expense Total costs and 580,697 453,982 expenses Net income $ 30,564 $ 28,460 Earnings per $ 1.88 $ 1.75 share For both the Current Year and 1 Year Ago, compute the following ratios (3-a) Times interest earned (3-b) Based on times interest earned, is the company more or less risky for creditors in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required Required 3A 38 Times interest earned. Current Year: 1 Year Ago Times Interest Earned Choose Denominator: Interest expense Choose Numerator Income before interest and income tax A = (Required 38 Required 38 > Times Interest Earned Times interest eamed oltimes O times", "related_book": { "title": "Advanced Accounting", "isbn": "978-0132568968, 9780132568968", "edition": "11th Edition", "authors": "Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/55.jpg", "uri": "\/textbooks\/advanced-accounting-11th-edition-9780132568968", "see_more_uri": "" }, "free_related_book": { "isbn": "979-8215922514", "uri": "\/textbooks\/high-value-offers-how-to-create-desire-and-turn-your-course-idea-into-the-dream-offer-for-your-ideal-student-1st-edition-979-8215922514-141098", "name": "High Value Offers How To Create Desire And Turn Your Course Idea Into The Dream Offer For Your Ideal Student", "edition": "1st Edition" }, "question_posted": "2024-05-27 01:03:35", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/accounting-for-non-accounting-students\/what-is-performance-measurement", "description": "What is performance measurement?", "stars": 3 }, { "url": "\/describe-the-major-constraint-inherent-in-the-presentation-of-accounting", "description": "Describe the major constraint inherent in the presentation of accounting information.", "stars": 3 }, { "url": "\/study-help\/statistics-alive\/6-criminal-justice-prisoners-the-time-plot-in-figure-218-1845306", "description": "6. 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