Simon Companys year end balance sheets follow At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 32,294 $ 38,893 $ 38,527 Accounts receivable, net 93,598 67,395 53,488 Merchandise inventory 117,682 87,294 55,831 Prepaid expenses 10,295 10,009 4,369 Plant assets, net 299,017 273,035 248,985 Total assets $ 552,886 $ 476,626 $ 401,200 Liabilities and Equity Accounts payable $ 136,292 $ 78,133 $ 51,899 Long term notes payable secured by mortgages on plant assets 100,824 107,432 87,779 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 153,270 128,561 99,022 Total liabilities and equity $ 552,886 $ 476,626 $ 401,200 The companys income statements for the Current Year and 1 Year Ago, follow For Year Ended December 31 Current Yr 1 Yr Ago Sales $ 718,752 $ 567,185 Cost of goods sold $ 438,439 $ 368,670 Other operating expenses 222,813 143,498 Interest expense 12,219 13,045 Income tax expense 9,344 8,508 Total costs and expenses 682,815 533,721 Net income $ 35,937 $ 33,464 Earnings per share $ 2 21 $ 2 06 For both the Current Year and 1 Year Ago, compute the following ratios Debt To Equity Ratio Choose Numerator Choose Denominator Debt To Equity Ratio Debt to equity ratio Current Year to 1 1 Year Ago to 1 Times Interest Earned Choose Numerator Choose Denominator Times Interest Earned Times interest earned Current Year 0 times 1 Year Ago 0 times Profit Margin Ratio Choose Numerator Choose Denominator Profit Margin Ratio Profit margin ratio Current Year 1 Year Ago Total Asset Turnover Choose Numerator Choose Denominator Total Asset Turnover Total asset turnover Current Year times 1 Year Ago times Return On Total Assets Choose Numerator Choose Denominator Return On Total Assets Return on total assets Current Year 1 Year Ago

Question

Simon Companys year end balance sheets follow  At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 32,294 $ 38,893 $ 38,527 Accounts receivable, net 93,598 67,395 53,488 Merchandise inventory 117,682 87,294 55,831 Prepaid expenses 10,295 10,009 4,369 Plant assets, net 299,017 273,035 248,985 Total assets $ 552,886 $ 476,626 $ 401,200 Liabilities and Equity Accounts payable $ 136,292 $ 78,133 $ 51,899 Long term notes payable secured by mortgages on plant assets 100,824 107,432 87,779 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 153,270 128,561 99,022 Total liabilities and equity $ 552,886 $ 476,626 $ 401,200 The companys income statements for the Current Year and 1 Year Ago, follow  For Year Ended December 31 Current Yr 1 Yr Ago Sales $ 718,752 $ 567,185 Cost of goods sold $ 438,439 $ 368,670 Other operating expenses 222,813 143,498 Interest expense 12,219 13,045 Income tax expense 9,344 8,508 Total costs and expenses 682,815 533,721 Net income $ 35,937 $ 33,464 Earnings per share $ 2 21 $ 2 06 For both the Current Year and 1 Year Ago, compute the following ratios  Debt To Equity Ratio Choose Numerator    Choose Denominator    Debt To Equity Ratio     Debt to equity ratio Current Year      to 1 1 Year Ago      to 1 Times Interest Earned Choose Numerator    Choose Denominator    Times Interest Earned     Times interest earned Current Year      0 times 1 Year Ago      0 times Profit Margin Ratio Choose Numerator    Choose Denominator    Profit Margin Ratio     Profit margin ratio Current Year        1 Year Ago        Total Asset Turnover Choose Numerator    Choose Denominator    Total Asset Turnover     Total asset turnover Current Year      times 1 Year Ago      times Return On Total Assets Choose Numerator    Choose Denominator    Return On Total Assets     Return on total assets Current Year        1 Year Ago

Accepted Answer

The Answer is in the image, click to view ...

Question

Simon Companys year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 32,294 $ 38,893 $ 38,527

Step by Step Solution

Step: 1

Get Instant Access to Expert-Tailored Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Recommended Textbook for

Connect For Payroll Accounting 2020

Students also viewed these Accounting questions

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

At December 31	Current Yr			1 Yr Ago		2 Yrs Ago
Assets
Cash		$	32,294	$	38,893	$	38,527
Accounts receivable, net			93,598		67,395		53,488
Merchandise inventory			117,682		87,294		55,831
Prepaid expenses			10,295		10,009		4,369
Plant assets, net			299,017		273,035		248,985
Total assets		$	552,886	$	476,626	$	401,200
Liabilities and Equity
Accounts payable		$	136,292	$	78,133	$	51,899
Long-term notes payable secured by mortgages on plant assets			100,824		107,432		87,779
Common stock, $10 par value			162,500		162,500		162,500
Retained earnings			153,270		128,561		99,022
Total liabilities and equity		$	552,886	$	476,626	$	401,200

For Year Ended December 31	Current Yr				1 Yr Ago
Sales			$	718,752			$	567,185
Cost of goods sold	$	438,439			$	368,670
Other operating expenses		222,813				143,498
Interest expense		12,219				13,045
Income tax expense		9,344				8,508
Total costs and expenses				682,815				533,721
Net income			$	35,937			$	33,464
Earnings per share			$	2.21			$	2.06