Simon Company's year-end balance sheets follow.
Homework Answers
1 - a Debt Ratio
Required Information
Total Debt (Long term notes payable secured by mortgages on Plant, assets) = $ 120141
Total Assets = $ 620433
Debt Ratio = Total liabilities / Total Assets
Debt ratio (Current Year) = $ 269994 / $ 620433
= 0.44
Debt Ratio (1Year Ago) = $ 213408 / $ 534856
= 0.40
1 - b Equity ratio
Equity Ratio = Shareholders Equity / Total Assets
Current Year = $ 350439 / $ 620433
= 0.56
1 Year Ago = $ 321448/ $ 534856
= 0.60
2. Debt to Equity Ratio
Debt to Equity Ratio = Total Liabilities / Shareholders Equity
Current Year = $ 269994/ $ 350439
= 0.77
1 Year Ago = $ 213408 / $ 321448
= 0.66
Time Interest Earned
Time interest earned = Income before interest and taxes / Interest Expenses
Current Year = $ 64525 / $ 13712
= 4.70
1 Year Ago = $ 61739 / $ 14639
= 4.22
Current year Times Interest earned ration i.e 4.70 is more as compared to previous year ratio i.e 4.22 hence company is less risky for creditors in current year as compared to previous year.
Simon Company's year-end balance sheets follow.
Simon Company's year-end balance sheets follow. (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period?
Simon Company's year end balance sheets follows. 1. Express the balance sheets in common size percent's....
Simon Company's year end balance sheets follows. 1. Express the
balance sheets in common size percent's. Round percent's 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?
Simon Company's year-end balance sheets follow 2016 $ 37.00 At December 31 Assets Cash Accounts receivable,...
Simon Company's year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 34,342...
Simon Company's year-end
balance sheets follow. At December 31 2017 2016 2015 Assets Cash $
34,342 $ 40,143 $ 40,996 Accounts receivable, net 100,540 69,541
54,115 Merchandise inventory 125,146 94,706 59,978 Prepaid expenses
10,948 10,644 4,646 Plant assets, net 316,979 291,824 254,365 Total
assets $ 587,955 $ 506,858 $ 414,100 Liabilities and Equity
Accounts payable $ 150,793 $ 87,372 $ 55,208 Long-term notes
payable secured by mortgages on plant assets 108,325 116,577 91,516
Common stock, $10 par value 163,500 163,500...
Simon Company's year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 27,960...
Simon Company's year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 27,960 $ 31,712 $ 34,058 Accounts receivable, net 81,037 57,195 45,870 Merchandise inventory 102,897 72,586 48,852 Prepaid expenses 9,093 8,409 3,823 Plant assets, net 248,221 234,588 214,897 Total assets $ 469,208 $ 404,490 $ 347,500 Liabilities and Equity Accounts payable $ 118,001 $ 67,675 $ 46,787 Long-term notes payable secured by mortgages on plant assets 89,093 95,824 75,262 Common stock, $10 par value 163,500 163,500...
Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable,...
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 28,167 84,968 103,689 9,348 260,975 $ 487,147 $ 32,924 $ 58,794 78,468 8,643 241,125 $ 419,954 $ 34,307 45,742 48,233 3,774 211,044 343,100 $ 120,087 $ 69,553 $ 44,383...
5 Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts...
5 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 $ 30,860 36,882 $ 37,959 88,539 65,848 52,146 113,593 83,418 54,997 10,038 9,660 4,175 285,309 260,545 238,823 $528,339 $455,465 $387,3ee 10 points eBook $135,503 75,434 51,635 Hint mortgages on plant assets Common stock, $10 par value Retained earnings 97,341 183,709 83,881 163,500 163,500...
Simon Company's year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 30,124...
Simon Company's year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 30,124 $ 35,212 $ 37,780 Accounts receivable, net 86,436 61,005 48,417 Merchandise inventory 110,872 81,428 53,137 Prepaid expenses 9,895 9,336 4,035 Plant assets, net 273,252 253,173 227,131 Total assets $ 510,579 $ 440,154 $ 370,500 Liabilities and Equity Accounts payable $ 130,948 $ 74,386 $ 48,906 Long-term notes payable secured by mortgages on plant assets 97,909 101,235 83,518 Common stock, $10 par value 163,500 163,500...
Simon Company's year-end balance sheets follow. 2018 2017 2016 At December 31 Assets Cash Accounts receivable, n...
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 $ 34,996 $ 40,907 $ 43,481 102,453 73,033 56,815 131,391 96,508 62,366 11,156 10,955 4,735 319,143 295, 296 271,803 $599,139 $516,499 $ 439,200 $149,186 $ 87,288 $ 57,974 114,891...
Simon Company's year-end balance sheets follow. BERTATE 2017 2016 2015 At December 31 Assets Cash Accounts...
Simon Company's year-end balance sheets follow. BERTATE 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 $ 35,705 $ 40,999 $ 43,031 102,458 72,314 57,375 130, 110 93,647 59,924 11,498 10,630 4,781 319,401 299,028 256,889 $ 599,172 $ 516,528 $ 422,000 $ 146,210 $...
3 Simon Company's year-end balance sheets follow 2017 At December 31 Assets Cash Accounts receivable, net...
3 Simon Company's year-end balance sheets follow 2017 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 15 points $38,225 44,681 42,964 57,285 64,166 5,069 344,133313,494 277,916 641,464 $ 552,986 447,400 78,966 135,156 104,348 11,497 111,884 12,066 eBook Liabilities and Equity Accounts payable Long-term notes payable secured by 156,530 $ 91,586 59,057 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 99,864 163,500 124,979 641,464 $...
Simon Company's year end balance sheets follows. 1. Express the
balance sheets in common size percent's. Round percent's 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?
Simon Company's year-end balance sheets follow 2016 $ 37.00 At December 31 Assets Cash Accounts receivable,...
Simon Company's year-end
balance sheets follow. At December 31 2017 2016 2015 Assets Cash $
34,342 $ 40,143 $ 40,996 Accounts receivable, net 100,540 69,541
54,115 Merchandise inventory 125,146 94,706 59,978 Prepaid expenses
10,948 10,644 4,646 Plant assets, net 316,979 291,824 254,365 Total
assets $ 587,955 $ 506,858 $ 414,100 Liabilities and Equity
Accounts payable $ 150,793 $ 87,372 $ 55,208 Long-term notes
payable secured by mortgages on plant assets 108,325 116,577 91,516
Common stock, $10 par value 163,500 163,500...
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 28,167 84,968 103,689 9,348 260,975 $ 487,147 $ 32,924 $ 58,794 78,468 8,643 241,125 $ 419,954 $ 34,307 45,742 48,233 3,774 211,044 343,100 $ 120,087 $ 69,553 $ 44,383...
5 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 $ 30,860 36,882 $ 37,959 88,539 65,848 52,146 113,593 83,418 54,997 10,038 9,660 4,175 285,309 260,545 238,823 $528,339 $455,465 $387,3ee 10 points eBook $135,503 75,434 51,635 Hint mortgages on plant assets Common stock, $10 par value Retained earnings 97,341 183,709 83,881 163,500 163,500...
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 $ 34,996 $ 40,907 $ 43,481 102,453 73,033 56,815 131,391 96,508 62,366 11,156 10,955 4,735 319,143 295, 296 271,803 $599,139 $516,499 $ 439,200 $149,186 $ 87,288 $ 57,974 114,891...
Simon Company's year-end balance sheets follow. BERTATE 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 $ 35,705 $ 40,999 $ 43,031 102,458 72,314 57,375 130, 110 93,647 59,924 11,498 10,630 4,781 319,401 299,028 256,889 $ 599,172 $ 516,528 $ 422,000 $ 146,210 $...
3 Simon Company's year-end balance sheets follow 2017 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 15 points $38,225 44,681 42,964 57,285 64,166 5,069 344,133313,494 277,916 641,464 $ 552,986 447,400 78,966 135,156 104,348 11,497 111,884 12,066 eBook Liabilities and Equity Accounts payable Long-term notes payable secured by 156,530 $ 91,586 59,057 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 99,864 163,500 124,979 641,464 $...
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