Simon Company’s year-end balance sheets follow.
At December 31 | 2017 | 2016 | 2015 | ||||||
Assets | |||||||||
Cash | $ | 35,286 | $ | 41,246 | $ | 40,887 | |||
Accounts receivable, net | 101,276 | 68,676 | 54,516 | ||||||
Merchandise inventory | 124,839 | 95,381 | 58,060 | ||||||
Prepaid expenses | 11,143 | 10,407 | 4,634 | ||||||
Plant assets, net |
308,101 |
284,846 | 254,903 | ||||||
Total assets | $ | 580,645 | $ | 500,556 | $ | 413,000 | |||
Liabilities and Equity | |||||||||
Accounts payable | $ | 143,135 | $ | 86,286 | $ | 55,606 | |||
Long-term notes payable secured
by mortgages on plant assets |
111,344 | 117,430 | 93,098 | ||||||
Common stock, $10 par value | 162,500 | 162,500 | 162,500 | ||||||
Retained earnings | 163,666 | 134,340 | 101,796 | ||||||
Total liabilities and equity | $ | 580,645 | $ | 500,556 | $ | 413,000 | |||
1. Compute the current ratio for the year ended
2017, 2016, and 2015.
2. Compute the acid-test ratio for the year ended
2017, 2016, and 2015.
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 35,286...
Simon Company's year-end balance sheets follow. 2017 2016 2015 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 28,539 $ 35,423 $ 35,115 86,127 59,584 47.289 106,144 79,53148,856 9,570 9,208 3,941 268, 299 246,150 219,499 $ 498,679 $ 429,896 $ 354,700 $ 125,413 $ 72,652 $ 46,820...
Simon Company's year-end balance sheets follow. 2017 2016 2015 $ At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Longtern notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 28,5315 33,684 $ 33,705 81,039 57, 196 46, 315 180,851 78,665 50, 317 8,912 8,579 3,745 264,248 238,756 213,318 $ 483,581 $ 416,880 $ 347,400 $ 119,208 $...
Simon Company's year-end balance sheets follow. 2017 2016 2015 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 26,1225 30,846 $ 34,119 79,574 53,981 44,167 97,135 70,612 47,513 8,498 8,261 3,791 240,461 225, 274 205,010 $ 451,799 $ 389,474 $ 334,600 $ 114,746 $ 65,821 $...
Simon Company's year-end balance sheets follow. 2018 2017 2016 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 28,805 $ 33,670 $ 34,715 85,188 60,726 48,195 109,250 77,861 52,873 9,655 9,019 4,016 265,278 248,186 221,701 $498,176 $429,462 $361,500 $122,805 $ 72,579 $ 47,718 92,721 100,752 81,489...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 36,335 $ 42,472 $ 42,524 Accounts receivable, net 107,459 73,568 56,120 Merchandise inventory 139,163 102,226 60,994 Prepaid expenses 12,179 11,377 4,773 Plant assets, net 333,281 312,096 273,889 Total assets $ 628,417 $ 541,739 $ 438,300 Liabilities and Equity Accounts payable $ 159,605 $ 89,723 $ 59,013 Long-term notes payable secured by mortgages on plant assets 120,505 123,354 94,927 Common stock, $10 par value 162,500 162,500...
Simon Company's year-end balance sheets follow. 2017 2016 2015 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,300 $ 34,400 89,400 64,000 77,174 85,000 10,950 10,185 356,176 291,415 $565,000 $485,000 $ 36,600 55,000 51,200 3,308 163,892 $ 310,000 $142,092 $ 81,965 $ 40,511 106,220 189,319...
Exercise 13-7 Liquidity analysis LO P3 Simon Company's year-end balance sheets follow. 2017 2016 2015 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31, 396 $ 35,274 $ 36, 744 86,579 61,730 49,982 108,856 83,219 51,639 9,816 9,634 4,248 279,995 255,524 232,287 $ 516,642 $...
Compute the acid-test ratio. Simon Company's year-end balance sheets follow At December 31 2017 2016 2015 Assets 36,109 43,061 $ 44,411 58,623 Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 107,828 75,357 134, 244 11,863 328,163 305,832 65,612 5,033 97,607 11,080 274,921 $618,207 $532,937 $448,600 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $153,934 $89,166 $ 58,031 113,898 162,500 162,500 162,500 125,027...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 27,904 $ 32,617 $ 34,676 Accounts receivable, net 89,700 62,600 59,700 Merchandise inventory 113,000 83,000 54,000 Prepaid expenses 8,986 8,562 3,853 Plant assets, net 247,981 233,541 208,871 Total assets $ 487,571 $ 420,320 $ 361,100 Liabilities and Equity Accounts payable $ 117,763 $ 68,903 $ 46,235 Long-term notes payable secured by mortgages on plant assets 88,913 93,773 77,409 Common stock, $10 par value 162,500 162,500...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 27,923 $ 33,985 $ 32,679 Accounts receivable, net 85,935 58,886 45,369 Merchandise inventory 105,949 76,257 47,839 Prepaid expenses 9,270 8,833 3,743 Plant assets, net 258,832 242,650 210,670 Total assets $ 487,909 $ 420,611 $ 340,300 Liabilities and Equity Accounts payable $ 119,060 $ 71,083 $ 46,267 Long-term notes payable secured by mortgages on plant assets 92,644 93,838 75,206 Common stock, $10 par value 162,500 162,500...