Question

Requirea information [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, sie par value Retained earnings Total liabilities and equity 33,377 $ 39,014 $ 40,234 89,208 62, 600 5 9,200 112,080 84,000 51,000 10,748 1 0, 241 4,470 320, 384 291,825 251,496 565,789 $ 487,680 $ 406,400 $ 140,862 $ 82,418 $ 53,645 106,353 112,166 89,814 162,500 162,500 162, see 155,994 130,596 100, 441 $ 565,799 $ 487,680 $ 406,400 The companii'e income ctatamente for the venre anrior noromhor 21 2017 and 2016 fully

Answer 1

Requirement: 1 Days sales Uncollected Days Sales Uncollected Denominator Years Numerator Days Days Sales Uncollected Accounts Receivable Net Sales 365 44.3 days 2017 89200 735422 365 39.4 days 580339 365 2016 62600 %3D Requirement: 2 Accounts Recievable Turn over ratio Denominator Account Recievable ratio Year Numerator Net Credit sales Average Account Recievable Account Recievable ratio times 2017 735422 75900 9.7 times 2016 580339 60900 9.5

Requirement: 3 Inventory turn over ratio Denominator Year Numerator Inventory Turn over ratio Cost of goods sold Inventory Turn over ratio Average Inventory 2017 448607 98000 4.6 times 377220 2016 67500 5.6 times %3D Requirement: 4 Days Sales in inventory Numerator Denominator Days Sales in inventory Year Days Ending Inventory Cost of goods sold Days Sales in inventory 91.1 days 365 2017 112000 448607 365 81.3 days 2016 84000 377220 365 "|"|"| |"