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Simon Companys year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 31,775 $ 37,142 $ 38,303

Simon Companys year-end balance sheets follow.

At December 31 Current Yr 1 Yr Ago 2 Yrs Ago
Assets
Cash $ 31,775 $ 37,142 $ 38,303
Accounts receivable, net 89,100 62,600 50,900
Merchandise inventory 111,000 84,500 54,000
Prepaid expenses 10,233 9,750 4,256
Plant assets, net 296,457 270,288 239,441
Total assets $ 538,565 $ 464,280 $ 386,900
Liabilities and Equity
Accounts payable $ 134,103 $ 78,463 $ 51,071
Long-term notes payable secured by mortgages on plant assets 101,250 106,784 85,505
Common stock, $10 par value 162,500 162,500 162,500
Retained earnings 140,712 116,533 87,824
Total liabilities and equity $ 538,565 $ 464,280 $ 386,900

The companys income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit:

For Year Ended December 31 Current Yr 1 Yr Ago
Sales $ 700,135 $ 552,493
Cost of goods sold $ 427,082 $ 359,120
Other operating expenses 217,042 139,781
Interest expense 11,902 12,707
Income tax expense 9,102 8,287
Total costs and expenses 665,128 519,895
Net income $ 35,007 $ 32,598
Earnings per share $ 2.15 $ 2.01

(1-a) Compute days' sales uncollected. (1-b) For each ratio, determine if it improved or worsened in the current year.

(2-a) Compute accounts receivable turnover. (2-b) For each ratio, determine if it improved or worsened in the current year.

(3-a) Compute inventory turnover. (3-b) For each ratio, determine if it improved or worsened in the current year. (4-a) Compute days' sales in inventory. (4-b) For each ratio, determine if it improved or worsened in the current year. image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

(1-a) Compute days' sales uncollected. (1-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 1A Required 1B Compute days' sales uncollected. Days' Sales Uncollected 1 Choose Denominator: Choose Numerator: Days Days' Sales Uncollected Days' Sales Uncollected Current Yr: 0 days 0 days 1 Yr Ago: x (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: 1 Choose Denominator: = Accounts Receivable Turnover Accounts receivable turnover times 11 Current Yr: 1 Yr Ago: times (3-a) Compute inventory turnover. (3-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 3A Required 3B Compute inventory turnover. Inventory Turnover Choose Numerator: Choose Denominator: = = Inventory Turnover Inventory turnover times 11 Current Yr: 1 Yr Ago: 11 times Complete this question by entering your answers in the tabs below. Required 4A Required 4B Compute days' sales in inventory. Days' Sales In Inventory. 1 Choose Denominator: Choose Numerator: Days X 11 Days' Sales In Inventory Days' sales in inventory 0 days 0 days X Current Yr: 1 Yr Ago:

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