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 | 162,500 | ||||||
Retained earnings | 185,807 | 166,162 | 121,860 | ||||||
Total liabilities and equity | $ | 628,417 | $ | 541,739 | $ | 438,300 | |||
The company’s income statements for the years ended December 31,
2017 and 2016, follow.
For Year Ended December 31 | 2017 | 2016 | ||||||||||
Sales | $ | 816,942 | $ | 644,669 | ||||||||
Cost of goods sold | $ | 498,335 | $ | 419,035 | ||||||||
Other operating expenses | 253,252 | 163,101 | ||||||||||
Interest expense | 13,888 | 14,827 | ||||||||||
Income taxes | 10,620 | 9,670 | ||||||||||
Total costs and expenses | 776,095 | 606,633 | ||||||||||
Net income | $ | 40,847 | $ | 38,036 | ||||||||
Earnings per share | $ | 2.51 | $ | 2.34 | ||||||||
Calculate the company’s long-term risk and capital structure
positions at the end of 2017 and 2016 by computing the following
ratios.
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 36,335...
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 $ 31,800 $ 36,000 $ 37,200 Accounts receivable, net 88,100 62,000 50,500 Merchandise inventory 111,000 83,800 54,500 Prepaid expenses 10,300 9,350 4,600 Plant assets, net 280,000 257,000 235,000 Total assets $ 521,200 $ 448,150 $ 381,800 Liabilities and Equity Accounts payable $ 129,200 $ 75,250 $ 50,400 Long-term notes payable secured by mortgages on plant assets 98,000 100,000 82,600 Common stock, $10 par value 161,500 161,500...
At December 31 2017 2016 2015 Assets Cash $ 33,338 $ 40,138 $38,236 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 93,724 125,129 10,521 68,195 91,016 10,127 277,632 53,582 55,403 4,422 242,457 $565,045 $487,108 394,100 302,333 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $140,696 $ 82,321 50,461 112,035 162,500 130,252 $565,045 $487,108 394,100 109,415 162,500 152,434 85,354 162,500 95,785 Total liabilities and...
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...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 35,662 $ 42,962 $ 44,296 Accounts receivable, net 107,579 75,183 56,767 Merchandise inventory 131,281 97,382 62,302 Prepaid expenses 11,484 11,054 4,731 Plant assets, net 330,773 305,125 266,304 Total assets $ 616,779 $ 531,706 $ 434,400 Liabilities and Equity Accounts payable $ 153,578 $ 90,757 $ 56,194 Long-term notes payable secured by mortgages on plant assets 118,274 124,738 97,922 Common stock, $10 par value 162,500 162,500...
[The following information applies to the questions displayed below.) 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 $ 29,378 $ 34, 341 $ 33,678 84,296 60,096 46,292 104,916 78,618 48,305 9,366 9,195 3,781 269,982 247,007 218,644 $497,938...
The following information applies to the questions displayed below) 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 $ 37,295 $ 42,739 $ 43,634 107,031 77,037 57,003 130,575 98,834 62,586 12,21% 11,107 4,750 332,807 304,523 277,227 $619,718 $534,240...
Simon Company's year-end balance sheets follow. 2017 2016 2015 At Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 31,178 $ 36,444 37,211 89,469 65,041 49,128 111,365 85,112 52,327 4,013 281,159 254, 691 225, 821 $523,211 $451,044 $ 368, 500 10,040 9,756 Liabilities and Equity Accounts payable Long-term notes payable secured by $127,674 78,513 $ 50,101 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 95,413 101,665 83,882 162,500...
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. 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...