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The following information applies to the questions displayed below.] Simon Companys year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years
The following information applies to the questions displayed below.]
Simon Companys year-end balance sheets follow.
At December 31 | Current Year | 1 Year Ago | 2 Years Ago |
---|---|---|---|
Assets | |||
Cash | $ 25,113 | $ 29,355 | $ 29,678 |
Accounts receivable, net | 69,217 | 51,371 | 41,186 |
Merchandise inventory | 88,821 | 67,217 | 42,569 |
Prepaid expenses | 7,929 | 7,554 | 3,264 |
Plant assets, net | 226,216 | 204,241 | 189,203 |
Total assets | $ 417,296 | $ 359,738 | $ 305,900 |
Liabilities and Equity | |||
Accounts payable | $ 107,024 | $ 59,580 | $ 41,186 |
Long-term notes payable | 78,452 | 84,395 | 66,928 |
Common stock, $10 par value | 162,500 | 162,500 | 162,500 |
Retained earnings | 69,320 | 53,263 | 35,286 |
Total liabilities and equity | $ 417,296 | $ 359,738 | $ 305,900 |
The companys income statements for the current year and one year ago, follow.
For Year Ended December 31 | Current Year | 1 Year Ago | ||
---|---|---|---|---|
Sales | $ 542,485 | $ 428,088 | ||
Cost of goods sold | $ 330,916 | $ 278,257 | ||
Other operating expenses | 168,170 | 108,306 | ||
Interest expense | 9,222 | 9,846 | ||
Income tax expense | 7,052 | 6,421 | ||
Total costs and expenses | 515,360 | 402,830 | ||
Net income | $ 27,125 | $ 25,258 | ||
Earnings per share | $ 1.67 | $ 1.55 |
(1) Compute debt and equity ratio for the current year and one year ago.
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