View History Bookmarks Window Help ezto.mheducation.com C myLU Ly Homework: Financial Statement Analysis Assignment M Question 8 - Homework: Financial Statement Analysis.. inancial Statement Analysis Assignment i Saved Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 33, 273 $ 38, 893 $ 39, 322 Accounts receivable, net 89 , 300 62, 700 51, 200 Merchandise inventory 110, 500 84, 500 57,000 Prepaid expenses 10, 715 10, 209 4, 369 Plant assets, net 309 , 098 280, 324 237, 509 Total assets $ 552, 886 $ 476, 626 $ 389, 400 Liabilities and Equity Accounts payable $ 140, 422 $ 82, 161 $ 52, 429 Long-term notes payable 106, 021 111, 816 87, 779 Common stock, $10 par value 162, 500 162, 500 162, 500 Retained earnings 143, 943 120, 149 86, 692 Total liabilities and equity $ 552, 886 $ 476, 626 $ 389, 400 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 Current Year 1 Year 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 3 OCT 24 atv 4 20 DII DD F2 F3 F4 F5 F6 F7 F8 E9 % &K: Financial Statement Analysis Assignment i Saved income Tax expense y.344 Required information Earnings per share $ 2.21 $ 2.06 (3-a) Compute inventory turnover. (3-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 3A Required 3B ices Compute inventory turnover. Inventory Turnover Numerator: Denominator: = Inventory Turnover = Inventory turnover Current Year: times 1 Year Ago: = times Required 3B 3 OCT 24 stv I 4 MacBook Air DII 20 988 F7 F8 F2 F3 F4 F5 F6 % & # V 4 5 6 8 W E R T Y Uezto.mheducation.com myLU Lu Homework: Financial Statement Analysis Assignment M Question 9 - Homework: Financial Statement Analysis.. Financial Statement Analysis Assignment i Saved Required information (4-a) compute days sales in inventory. (4-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 4A Required 4B Compute days' sales in inventory. Days' Sales In Inventory. Numerator: Denominator: * Days = Days' Sales In Inventory = Days' sales in inventory Current Year: = 0 days 1 Year Ago = 0 days OCT 24 atv MacBook Air DII DD 80 888 F4 F5 F6 F7 F8 F9 F3 % 2 5 6 8 A