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[The following information applies to the questions displayed below.] Simon Company's 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 Company's year-end balance sheets follow.
At December 31 | Current Year | 1 Year Ago | 2 Years Ago |
---|---|---|---|
Assets | |||
Cash | $ 29,976 | $ 33,998 | $ 36,131 |
Accounts receivable, net | 86,020 | 58,890 | 46,757 |
Merchandise inventory | 110,316 | 81,028 | 50,808 |
Prepaid expenses | 9,749 | 9,289 | 3,975 |
Plant assets, net | 266,978 | 250,449 | 220,129 |
Total assets | $ 503,039 | $ 433,654 | $ 357,800 |
Liabilities and Equity | |||
Accounts payable | $ 121,499 | $ 73,288 | $ 48,174 |
Long-term notes payable | 92,680 | 101,735 | 81,446 |
Common stock, $10 par value | 162,500 | 162,500 | 162,500 |
Retained earnings | 126,360 | 96,131 | 65,680 |
Total liabilities and equity | $ 503,039 | $ 433,654 | $ 357,800 |
For both the current year and one year ago, compute the following ratios:
The companys income statements for the current year and one year ago follow. Assume that all sales are on credit:
For Year Ended December 31 | Current Year | 1 Year Ago | ||
---|---|---|---|---|
Sales | $ 653,951 | $ 516,048 | ||
Cost of goods sold | $ 398,910 | $ 335,431 | ||
Other operating expenses | 202,725 | 130,560 | ||
Interest expense | 11,117 | 11,869 | ||
Income tax expense | 8,501 | 7,741 | ||
Total costs and expenses | 621,253 | 485,601 | ||
Net income | $ 32,698 | $ 30,447 | ||
Earnings per share | $ 2.01 | $ 1.87 |
Compute days' sales uncollected. Compute days' sales in inventory
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