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Simon Companys year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 32,935 $ 38,498 $ 38,545
Simon Companys year-end balance sheets follow.
At December 31 | Current Yr | 1 Yr Ago | 2 Yrs Ago | ||||||||
Assets | |||||||||||
Cash | $ | 32,935 | $ | 38,498 | $ | 38,545 | |||||
Accounts receivable, net | 89,200 | 62,800 | 51,100 | ||||||||
Merchandise inventory | 114,000 | 85,000 | 51,000 | ||||||||
Prepaid expenses | 10,606 | 10,106 | 4,283 | ||||||||
Plant assets, net | 295,220 | 270,804 | 233,072 | ||||||||
Total assets | $ | 541,961 | $ | 467,208 | $ | 378,000 | |||||
Liabilities and Equity | |||||||||||
Accounts payable | $ | 138,997 | $ | 81,327 | $ | 51,393 | |||||
Long-term notes payable secured by mortgages on plant assets | 104,945 | 110,682 | 86,044 | ||||||||
Common stock, $10 par value | 162,500 | 162,500 | 162,500 | ||||||||
Retained earnings | 135,519 | 112,699 | 78,063 | ||||||||
Total liabilities and equity | $ | 541,961 | $ | 467,208 | $ | 378,000 | |||||
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 | $ | 704,549 | $ | 555,978 | ||||||||
Cost of goods sold | $ | 429,775 | $ | 361,386 | ||||||||
Other operating expenses | 218,410 | 140,662 | ||||||||||
Interest expense | 11,977 | 12,787 | ||||||||||
Income tax expense | 9,159 | 8,340 | ||||||||||
Total costs and expenses | 669,321 | 523,175 | ||||||||||
Net income | $ | 35,228 | $ | 32,803 | ||||||||
Earnings per share | $ | 2.17 | $ | 2.02 | ||||||||
Profit margin ratio.
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Improved or Worsen?
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Return on total assets
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- Required 3A
Imroved or Worsen
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