Homework Answers
Solution:
Simon Company
Common - Size Comparative Balance Sheets
December 31, 2015 - 2017
| 2017 | 2016 | 2015 | ||||
| Assests | ||||||
| Cash | 5.7(34,258/598,500) | % | 7.9(40,870/516,030) | % | 10.0(42,159/417,500) | % |
| Account receivable net | 17.6(105,431/598,595) | 13.8(71,522/516,030) | 12.9(54,008/417,500) | |||
| Merchandise inventory | 22.1(132,559/598,595) | 19.0(98330/516,030) | 13.9(58,099/417,500) | |||
| Prepaid expenses | 1.8(11,373/598,595) | 2.1(10945/516,030) | 1.1(4,684/417,500) | |||
| Plant assets, net | 52.6(314,974/598,595) | 57.0(294363/516030) | 61.9(258550/417500) | |||
| Total assets | 100 | % | 100 | % | 100 | % |
| Liabilities and Equity | ||||||
| Accounts payable | 25.1(150,541/598,595) | % | 16.6(85,485/516,030) | % | 13.1(54,559/417,500) | % |
| Long term notes payable secured by mortgage on plant assets | 18.8(112,536/598,595) | 23.2(119,874/516,030) | 21.7(90,422/417,500) | |||
| Common stock, $10 par | 27.3(163,500/598,595) | 31.7(163,500/516,030) | 39.2(163,500/417,500) | |||
| Retained earnings | 28.7(172,018/598,595) | 28.5(147,191/516,030) | 26.1(109,019/417500) | |||
| Total liabilities and equity | 100 | % | 100 | % | 100 | % |
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Exercise 13-6 Common-size percents LO P2 Simon Company’s
year-end balance sheets follow. Express the balance sheets...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. At December 31 2017...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 33,349 $ 40,163 $ 96,655 123,980 10,631 306,329 $ 570,944 $ 492,193 $ 406,100 68,218 89,235 10,336 284,241 41,008 53,069 58,243 4,467 249,313 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $ 142,165 $...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. At December 31 2015 20172016 s 32,033 37,072 36,357 Assets Cash Accounts receivable, net Merchandise...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. At December 31 2015 20172016 s 32,033 37,072 36,357 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 48,976 114,418 85,730 54,836 4,081 291,723 265,249 234,350 89,164 65,526 9,829 10,213 s537,551 463,406 378,600 Liabilities and Equity Accounts payable Long-term notes payable secured by s 135,189 78,316 49,975 99,038 107,649 86,181 163,500 163,500 163,500 78,944 mortgages on plant assets Common stock, $10 par value...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. At December 31 2017...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $27,709 $32,720 $35,474 Accounts receivable, net 83,587 57,838 47,299 Merchandise inventory 100,974 74,136 49,386 Prepaid expenses 9,014 8,502 3,787 Plant assets, net 257,946 239,933 215,354 Total assets $479,230 $413,129 $351,300 Liabilities and Equity Accounts payable $119,328 $71,215 $45,908 Long-term notes payable secured by mortgages on plant assets 92,798 95,020 77,637 Common stock, $10 par value 163,500 163,500 163,500 Retained earnings...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. 2015 2014 2013 $...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. 2015 2014 2013 $ At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 26,198 75,931 94,533 8,106 230,567 $ 30,323 $ 30,961 53,066 42,116 67,346 46,204 7,8813,440 216,673 193,179 Total assets $ 435,335 $375,289 $315,900 $ 107,314 $ 62,155 $ 40,448 Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. Current Yri Yr Ago...
Exercise 13-6 Common-size percents LO P2 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 $ 27,842 81,493 102,462 8,877 246,551 $ 467,225 $ 31,900 $ 33,908 55,825 46,114 74,514 48,635 8,458 3,805 232,083...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. Current Yr 1 Yr...
Exercise 13-6 Common-size percents LO P2 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 $ 32,972 93,653 121,355 10,300 300,573 $558,853 $ 39,312 $ 38,172 65,424 51,421 90,910 57,574 10,117 4,329 276,007...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. Current Yr 1 Yr...
Exercise 13-6 Common-size percents LO P2 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 $ 30,524 88.468 106.826 9.927 276,488 $ 512,233 $ 35,680 $ 37,902 63,676 50,046 80,058 53,837 EL 9,366...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. Current Yr 1 Yr...
Exercise 13-6 Common-size percents LO P2 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 $ 26,310 77,041 99,830 8,910 247,637 $ 459,728 $ 32,339 $ 32,696 54,930 44,916 71,119 46,897 8,406 3,560...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. Current Yr 1 Yr...
Exercise 13-6 Common-size percents LO P2 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 $ 28,970 84,802 103,456 9,329 264,452 $ 491,009 $ 34,201 $ 34,921 59,260 47,032 75,958 51,101 9,156 3,998...
exercise 13-6 ammon-size percents Simon Company's year-end balance sheets follow. (1) Express the balance sheets in...
exercise 13-6 ammon-size percents Simon Company's year-end balance sheets follow. (1) Express the balance sheets in common-size per- cents. Round percents to one decimal. (2) Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? (3) Is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Chapter 13 Analysis of Financial Statements Current Yr 1 Yr Ago 2 Yrs...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 33,349 $ 40,163 $ 96,655 123,980 10,631 306,329 $ 570,944 $ 492,193 $ 406,100 68,218 89,235 10,336 284,241 41,008 53,069 58,243 4,467 249,313 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $ 142,165 $...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. At December 31 2015 20172016 s 32,033 37,072 36,357 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 48,976 114,418 85,730 54,836 4,081 291,723 265,249 234,350 89,164 65,526 9,829 10,213 s537,551 463,406 378,600 Liabilities and Equity Accounts payable Long-term notes payable secured by s 135,189 78,316 49,975 99,038 107,649 86,181 163,500 163,500 163,500 78,944 mortgages on plant assets Common stock, $10 par value...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. 2015 2014 2013 $ At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 26,198 75,931 94,533 8,106 230,567 $ 30,323 $ 30,961 53,066 42,116 67,346 46,204 7,8813,440 216,673 193,179 Total assets $ 435,335 $375,289 $315,900 $ 107,314 $ 62,155 $ 40,448 Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings...
Exercise 13-6 Common-size percents LO P2 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 $ 27,842 81,493 102,462 8,877 246,551 $ 467,225 $ 31,900 $ 33,908 55,825 46,114 74,514 48,635 8,458 3,805 232,083...
Exercise 13-6 Common-size percents LO P2 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 $ 32,972 93,653 121,355 10,300 300,573 $558,853 $ 39,312 $ 38,172 65,424 51,421 90,910 57,574 10,117 4,329 276,007...
Exercise 13-6 Common-size percents LO P2 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 $ 30,524 88.468 106.826 9.927 276,488 $ 512,233 $ 35,680 $ 37,902 63,676 50,046 80,058 53,837 EL 9,366...
Exercise 13-6 Common-size percents LO P2 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 $ 26,310 77,041 99,830 8,910 247,637 $ 459,728 $ 32,339 $ 32,696 54,930 44,916 71,119 46,897 8,406 3,560...
Exercise 13-6 Common-size percents LO P2 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 $ 28,970 84,802 103,456 9,329 264,452 $ 491,009 $ 34,201 $ 34,921 59,260 47,032 75,958 51,101 9,156 3,998...
exercise 13-6 ammon-size percents Simon Company's year-end balance sheets follow. (1) Express the balance sheets in common-size per- cents. Round percents to one decimal. (2) Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? (3) Is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Chapter 13 Analysis of Financial Statements Current Yr 1 Yr Ago 2 Yrs...
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