Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 27,038 89, 100 110,500 8,707 227,552 $462,897 $ 31,605 $ 32,922 62,500 50,800 82,500 56,500 8,296 3,658 214,148 192,520 $ 399,049 $ 335, 900 $114,109 86,154 162,500 100, 134 $ 462,897 $ 66,765 $ 43,895 90,863 73,492 162,500 162,500 78,921 56,013 $ 399,049 $ 335, 900 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net Income Current Yr $ 601,766 $ 367,077 186,547 10,230 7,823 571,677 $ 30,089 1 Yr Ago $ 474,868 $ 308,664 120, 142 10,922 7,123 446,851 $ 28,017 Other operating expenses Interest expense Income tax expense Total costs and expenses Net income 186,547 10,230 7,823 120,142 10,922 7,123 571,677 30,089 446,851 $ 28,017 $ Earnings per share $ 1.85 $ 1.72 Exercise 13-9 (Algo) Part 1 (1-a) Compute days' sales uncollected. (1-6) 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. Choose Numerator: Days' Salos Uncollected Choose Denominator: Days X Current Yr: Days' Sales Uncollected Days' sales uncollected days days X 11 1 Yr Ago: / Required 1A Required 1B > Exercise 13-9 (Algo) Part 1 (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 16 For each ratio, determine if it improved or worsened in the current year. Days' sales uncollected (2-a) Compute accounts receivable turnover. (2-6) 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 For each ratio, determine if it improved or worsened in the current year. Accounts receivable turnover LA Exercise 13-9 (Algo) Part 3 (3-a) Compute inventory turnover. (3-6) 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 1 Choose Denominator: Choose Numerator: Inventory Turnover Inventory turnover times Current Yr: 1 1 Yr Ago: 1 times Required JA Required 3B > Earnings Exercise 13-9 (Algo) Part 3 (3-a) Compute inventory turnover. (3-6) 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 For each ratio, determine if it improved or worsened in the current year. Inventory turnover (4-a) Compute days' sales in inventory. (4-6) 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 4A Required 4B Compute days' sales in inventory. Choose Numerator: Days Sales In Inventory Choose Denominator: 1 X Days 1 Days' Sales In Inventory Days' sales in inventory days days Current Yr: 1 x 1 Yr Ago: 1 x
