Homework Answers
1) Debt Ratio
| Year | Numerator | / | Denominator | = | Debt Ratio | |
| Total Liabilities | / | Total Assets | ||||
| Current Year | 267974 | / | 623875 | = | 42.9532 | % |
| 1 Year Ago | 211538 | / | 537826 | = | 39.3321 | % |
Working Note:
Calculation of Total Liabilities
| Current Year | 1 Year Ago | |
| Accounts payable | 150685 | 89075 |
| Long term notes payable secured by mortgage on plant assets | 117289 | 122463 |
| TOTAL | 267974 | 211538 |
2) Equity Ratio
| Year | Numerator | / | Denominator | = | Debt Ratio | |
| Total Equity | / | Total Assets | ||||
| Current Year | 355904 | / | 623875 | = | 57.0473 | % |
| 1 Year Ago | 326288 | / | 537826 | = | 60.6679 | % |
Working Note:
Calculation of Total Equity
| Current Year | 1 Year Ago | |
| Common Stock | 162500 | 162500 |
| Retained earnings | 193404 | 163788 |
| TOTAL | 355904 | 326288 |
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Simon Company's year-end balance sheets follow. Current yr 1 Yr Ago 2 Yrs Ago At December...
Simon Company's year-end balance sheets follow Current Yr 1 Yr Ago 2 Yrs Ago At December...
Simon Company's year-end balance sheets follow Current Yr 1 Yr Ago 2 Yrs 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 28,893 88,920 108,544 9,496 269,002 $504,855 $ 34,469 $ 36,646 59,712 49,355 82,931 52,032 9,140 4,072 248,968 231,795 $ 435,220 $ 373,900 $124,452...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 27,035 77,588 95,620 8,621 240, 374 $449,238 $ 31,602 $ 31,950 55,845 41,765 71,646 46, 277 8,051 3,480 220, 130 192,928 $ 387,274...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 34,945 $ 43,374 $ 44,312 Accounts receivable, net 104,412 72,956 58,492 Merchandise inventory 132,591 98,354 63,559 Prepaid expenses 11,369 11,386 4,874 Plant assets, net 327,281 300,308 276,363 Total assets $ 610,598 $ 526,378 $ 447,600 Liabilities and Equity Accounts payable $ 155,080 $ 90,737 $ 57,902 Long-term notes payable secured by mortgages on plant assets 114,792 119,856 98,920 Common stock,...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 28,893 88,920 108,544 9,496 269,002 $504,855 $ 34,469 $ 36,646 59,712 49,355 82,931 52,032 9,140 4,072 248,968 231,795 $ 435,220 $ 373,980 $...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Ca...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 28,446 $ 32,579 $ 36,403 Accounts receivable, net 84,111 58,189 47,124 Merchandise inventory 103,659 76,892 51,708 Prepaid expenses 9,253 8,640 3,927 Plant assets, net 261,536 243,532 217,838 Total assets $ 487,005 $ 419,832 $ 357,000 Liabilities and Equity Accounts payable $ 123,690 $ 70,952 $ 47,124 Long-term notes payable secured by mortgages on plant assets 92,473 97,527 80,475 Common stock,...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 32,294 $ 38,893 $ 38,527 Accounts receivable, net 93,598 67,395 53,488 Merchandise inventory 117,682 87,294 55,831 Prepaid expenses 10,295 10,009 4,369 Plant assets, net 299,017 273,035 248,985 Total assets $ 552,886 $ 476,626 $ 401,200 Liabilities and Equity Accounts payable $ 136,292 $ 78,133 $ 51,899 Long-term notes payable secured by mortgages on plant assets 100,824 107,432 87,779 Common stock,...
Simon Company's year-end balance sheets follow. Current Yri Yr Ago 2 Yrs Ago At December 31...
Simon Company's year-end balance sheets follow. Current Yri Yr Ago 2 Yrs 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 25,385 77,328 91,561 8,258 236,505 $439,037 $ 29, 370 $ 30,912 52,987 40,800 67,918 44,339 7,789 3,400 220, 416 195,949 $ 378, 480 $...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 34,945 $ 43,374 $ 44,312 Accounts receivable, net 104,412 72,956 58,492 Merchandise inventory 132,591 98,354 63,559 Prepaid expenses 11,369 11,386 4,874 Plant assets, net 327,281 300,308 276,363 Total assets $ 610,598 $ 526,378 $ 447,600 Liabilities and Equity Accounts payable $ 155,080 $ 90,737 $ 57,902 Long-term notes payable secured by mortgages on plant assets 114,792 119,856 98,920 Common stock,...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 32,935 $ 38,498 $ 38,545 Accounts receivable, net 89,200 62,800 51,100 Merchandise inventory 114,000 85,000 51,000 Prepaid expenses 10,606 10,106 4,283 Plant assets, net 295,220 270,804 233,072 Total assets $ 541,961 $ 467,208 $ 378,000 Liabilities and Equity Accounts payable $ 138,997 $ 81,327 $ 51,393 Long-term notes payable secured by mortgages on plant assets 104,945 110,682 86,044 Common stock,...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,111 89,500 112,000 10,341 289,624 $ 533,576 $ 37,534 $ 37,948 62,600 51,900 83,500 60,000 9,853 4,216 266,492 221,736 $ 459,979 $ 375,800...
Simon Company's year-end balance sheets follow Current Yr 1 Yr Ago 2 Yrs 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 28,893 88,920 108,544 9,496 269,002 $504,855 $ 34,469 $ 36,646 59,712 49,355 82,931 52,032 9,140 4,072 248,968 231,795 $ 435,220 $ 373,900 $124,452...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 27,035 77,588 95,620 8,621 240, 374 $449,238 $ 31,602 $ 31,950 55,845 41,765 71,646 46, 277 8,051 3,480 220, 130 192,928 $ 387,274...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 28,893 88,920 108,544 9,496 269,002 $504,855 $ 34,469 $ 36,646 59,712 49,355 82,931 52,032 9,140 4,072 248,968 231,795 $ 435,220 $ 373,980 $...
Simon Company's year-end balance sheets follow. Current Yri Yr Ago 2 Yrs 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 25,385 77,328 91,561 8,258 236,505 $439,037 $ 29, 370 $ 30,912 52,987 40,800 67,918 44,339 7,789 3,400 220, 416 195,949 $ 378, 480 $...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,111 89,500 112,000 10,341 289,624 $ 533,576 $ 37,534 $ 37,948 62,600 51,900 83,500 60,000 9,853 4,216 266,492 221,736 $ 459,979 $ 375,800...
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