Homework Answers
1)
| Debt Ratio | ||||||
| Choose Numerator | / | Choose Denominator | = | Debt Ratio | ||
| Total debt | / | Total assets | = | Debt Ratio | ||
| Current Year: | (101219+79510)= $180729 | / | $410608 | = | 44.01 | % |
| 1 Year Ago: | (59223+80599)= $139822 | $353972 | = | 39.50 | % | |
| Equity Ratio | ||||||
| Choose Numerator | / | Choose Denominator | = | Equity Ratio | ||
| Total equity | / | Total assets | = | Equity Ratio | ||
| Current Year: | (162500+67379)= $229879 | / | 410608 | = | 55.99 | % |
| 1 Year Ago: | (162500+51650)= $214150 | / | 353972 | = | 60.50 | % |
3-a)
| Return on Total Assets | ||||||
| Choose Numerator | / | Choose Denominator | = | Return on Total Assets | ||
| Net income | / | Average total assets | = | Return on Total Assets | ||
| Current Year: | $46450 | / | (519850+445550)/2= $482700 | = | 9.62 | % |
| 1 Year Ago: | $52775 | / | (445550+381900)/2= $413725 | = | 12.76 | % |
b) Based on the return on total assets, the operating efficiency of the company worsen in the Current Year versus 1 Year ago as the return on total assets has decreased from the previous year.
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Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets...
Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets...
Required information [The following information applies to the questions displayed below.) 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 $ 26,752 81,533 103,517 8,615 247,036 $467,453 $ 31,593 $ 33,588 57,545 45,241...
Required information [The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets...
Required information [The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 36,426 $ 41,743 $ 43,048 Accounts receivable, net 101,432 73,781 55,709 Merchandise inventory 132,737 94,601 59,324 Prepaid expenses 11,615 10,958 4,736 Plant assets, net 323,068 300,708 263,483 Total assets $ 605,278 $ 521,791 $ 426,300 Liabilities and Equity Accounts payable $ 153,729 $ 88,183 $ 57,960 Long-term notes payable...
Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets...
Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 31,000 87,300 110,500 10,950 279,000 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 $ 35,750 $ 38,600 63,500 49,500 82,400...
Required information [The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets...
Required information [The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 30,234 $ 35,340 $ 35,383 Accounts receivable, net 90,309 64,370 48,622 Merchandise inventory 109,049 85,894 51,270 Prepaid expenses 9,836 9,466 4,052 Plant assets, net 283,464 255,699 225,373 Total assets $ 522,892 $ 450,769 $ 364,700 Liabilities and Equity Accounts payable $ 127,596 $ 74,656 $ 48,622 Long-term notes payable...
Required information [The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets...
Required information [The following information applies to the questions displayed below.] 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...
Required information [The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets...
Required information [The following information applies to the questions displayed below.] 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...
Required information [The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets...
Required information [The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 37,056 $ 43,315 $ 43,368 Accounts receivable, net 89,500 62,700 51,500 Merchandise inventory 114,000 84,500 57,000 Prepaid expenses 11,933 11,370 4,819 Plant assets, net 357,289 323,786 268,613 Total assets $ 609,778 $ 525,671 $ 425,300 Liabilities and Equity Accounts payable $ 156,390 $ 91,504 $ 57,824 Long-term notes payable...
Required information [The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets...
Required information [The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 37,056 $ 43,315 $ 43,368 Accounts receivable, net 89,500 62,700 51,500 Merchandise inventory 114,000 84,500 57,000 Prepaid expenses 11,933 11,370 4,819 Plant assets, net 357,289 323,786 268,613 Total assets $ 609,778 $ 525,671 $ 425,300 Liabilities and Equity Accounts payable $ 156,390 $ 91,504 $ 57,824 Long-term notes payable...
Required information (The following information applies to the questions displayed below.] Simon Company's year-end balance sheets...
Required information (The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Current Yr 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 $ 35,306 89,300 110,000 11,370 340,702 $586,678 1 Yr Ago 2 Yrs Ago $ 41,270 $ 41,725 62,300 51,800...
une information [The following information applies to the questions displayed below) Simon Company's year-end balance sheets...
une information [The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow. Current Y 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, sie par value Retained earnings Total liabilities and equity $ 31,800 89,5ee 112,5ee 10,700 278, 5ee $ 523,000 $ 35,625 $ 37,8ee...
Required information [The following information applies to the questions displayed below.) 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 $ 26,752 81,533 103,517 8,615 247,036 $467,453 $ 31,593 $ 33,588 57,545 45,241...
Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 31,000 87,300 110,500 10,950 279,000 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 $ 35,750 $ 38,600 63,500 49,500 82,400...
Required information (The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Current Yr 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 $ 35,306 89,300 110,000 11,370 340,702 $586,678 1 Yr Ago 2 Yrs Ago $ 41,270 $ 41,725 62,300 51,800...
une information [The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow. Current Y 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, sie par value Retained earnings Total liabilities and equity $ 31,800 89,5ee 112,5ee 10,700 278, 5ee $ 523,000 $ 35,625 $ 37,8ee...
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