The company's income statements for the current year and 1 year ago For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 752,791 $ 459,203 233,365 12,797 9,786 715, 151 $ 37,640 $ 2.32 1 Year Ago $ 594,046 $ 386,130 150, 294 13,663 8,911 558,998 $ 35,048 $ 2.16 For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? (2) Total asset turnover. (3-a) Return on total assets. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Cur Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2 Required 3A Required 3B Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 752,791 $ 459,203 233,365 12,797 9,786 715, 151 $ 37,640 $ 2.32 1 Year Ago $ 594,046 $ 386,130 150, 294 13,663 8,911 558,998 $ 35,048 $ 2.16 For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? (2) Total asset turnover. (3-a) Return on total assets. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Required 3A Required 3B Compute total asset turnover for the current year and one year ago Total Asset Turnover Denominator: Numerator: 11 Total Asset Turnover = Total asset turnover Current Year: times 1 Year Ago: times Required information The company's income statements for the current year and 1 year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 752,791 $ 459,203 233, 365 12,797 9,786 715, 151 $ 37,640 $ 2.32 1 Year Ago $ 594,046 $ 386,130 150,294 13,663 8,911 558,998 $ 35,048 $ 2.16 For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? (2) Total asset turnover. (3-a) Return on total assets. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year ver Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Required 3A Required 38 Compute return on total assets for the current year and one year ago. Return On Total Assets Numerator: Denominator: 11 Return On Total Assets = Return on total assets H1 % Current Year: 1 Year Ago: 11 % The company's income statements for the current year and 1 year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 752,791 $ 459,203 233,365 12,797 9,786 715, 151 $ 37,640 $ 2.32 1 Year Ago $ 594,046 $ 386,130 150, 294 13,663 8,911 558,998 $ 35,048 $ 2.16 For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? (2) Total asset turnover. (3-a) Return on total assets. (3-6) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year ver Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Required 3A Required 3B Based on return on total assets, did Simon's operating efficiency Improve or worsen in the Current Year versus 1 Year Return on total assets Raud DA Simon Company's year-end balance sheets follow. Current Year 1 Year Ago 2 Years 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 $ 34,165 100,011 125,745 11,112 308,037 $ 579,070 $ 38,738 67,791 W 92,352 10,169 290, 148 $ 499, 198 $ 41,184 56,021 61,458 4,484 257,053 $ 420,200 $ 147,072 109,954 162,500 159,544 $ 579,070 $ 84,364 114,816 162,500 137,518 $ 499,198 $ 54,357 92,864 163,500 109,479 $ 420,200 Exercise 13-10 (Algo) Analyzing efficiency and profitability LO P3 The company's income statements for the current year and 1 year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 752,791 $ 459,203 233,365 12,797 9,786 715, 151 $ 37,640 $ 2.32 1 Year Ago $ 594,046 $ 386,130 150, 294 13,663 8,911 558,998 $ 35,048 $ 2.16
