Simon Company's year-end balance sheets follow.
At December 31 | Current Yr | 1 Yr Ago | 2 Yrs Ago | |||||||
Assets | ||||||||||
Cash | $ | 25,712 | $ | 29,447 | $ | 30,067 | ||||
Accounts receivable, net | 74,520 | 53,658 | 40,916 | |||||||
Merchandise inventory | 92,749 | 70,203 | 44,016 | |||||||
Prepaid expenses | 8,280 | 7,730 | 3,444 | |||||||
Plant assets, net | 238,932 | 218,439 | 194,657 | |||||||
Total assets | $ | 440,193 | $ | 379,477 | $ | 313,100 | ||||
Liabilities and Equity | ||||||||||
Accounts payable | $ | 107,416 | $ | 62,849 | $ | 42,569 | ||||
Long-term notes payable secured by mortgages on plant assets |
81,929 | 88,153 | 67,119 | |||||||
Common stock, $10 par value | 163,500 | 163,500 | 163,500 | |||||||
Retained earnings | 87,348 | 64,975 | 39,912 | |||||||
Total liabilities and equity | $ | 440,193 | $ | 379,477 | $ | 313,100 | ||||
1. Express the balance sheets in common-size
percents. (Do not round intermediate calculations and round
your final percentage answers to 1 decimal place.)
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. Assuming annual sales have not changed in the
last three years, is the change in merchandise inventory as a
percentage of total assets favorable or unfavorable?
Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 26,870 $ 32,049 $ 32,079 Accounts receivable, net 79,466 56,647 42,340 Merchandise inventory 101,912 71,890 46,012 Prepaid expenses 8,565 8,581 3,636 Plant assets, net 247,900 231,448 203,233 Total assets $ 464,713 $ 400,615 $ 327,300 Liabilities and Equity Accounts payable $ 118,028 $ 69,058 $ 43,636 Long-term notes payable secured by mortgages on plant assets 85,619 93,984 71,610 Common stock,...
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 $ 30,338 87,057 112,741 9,480 269,488 $ 509,104 $ 35,111 $ 37,686 61,444 49,755 81,193 52,994 9,032 4,023 252,103 228,742 $ 438,883 $ 373,200...
Simon Company's year-end balance sheets follow. 1 Yr Ago At December 31 2 Yrs Ago Current Yr Assets Cash 33,620 99,370 120,087 10,398 300,711 40,077 $ 70,134 40,936 54,581 58,135 4,548 251,200 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 89,078 10,214 276,864 486,367 § 409,400 564,186 Total assets Liabilities and Equity Accounts payable 137,673 82,196 $ 55,122 Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings 89,573 163,500 101,205 105,006...
Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 27,053 $ 32,580 $ 32,617 Accounts receivable, net 80,783 55,898 44,350 Merchandise inventory 102,565 74,603 46,320 Prepaid expenses 8,976 8,468 3,660 Plant assets, net 243,775 227,720 199,253 Total assets $ 463,152 $ 399,269 $ 326,200 Liabilities and Equity Accounts payable $ 114,172 $ 67,476 $ 41,767 Long-term notes payable secured by mortgages on plant assets 86,202 89,995 72,090 Common stock,...
Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 28,189 $ 33,273 $ 33,314 Accounts receivable, net 80,899 55,401 43,521 Merchandise inventory 98,694 73,209 48,748 Prepaid expenses 8,989 8,565 3,702 Plant assets, net 251,638 233,353 210,615 Total assets $ 468,409 $ 403,801 $ 339,900 Liabilities and Equity Accounts payable $ 117,800 $ 66,878 $ 43,969 Long-term notes payable secured by mortgages on plant assets 88,061 94,732 73,616 Common stock,...
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 $ 32,897 99,198 118,669 11,022 301,425 $ 563,211 $ 38,842 $ 39,263 66,614 53,937 88,924 58,592 10,298 4,318 280,849 244,490 $ 485,527 $ 400,600...
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 $ 25, 113 75,013 94,315 8,005 231,884 $ 434,330 $ 30, 253 $ 29,981 53, 467 41,186 69,268 42,569 7,706 3,432 213,728 188,732 $...
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 $ 29,317 85,810 105,775 9,534 261,539 $ 491,975 $ 34,947 $ 34,304 61,158 44,823 80,031 49,695 8,906 3,735 239,074 213,943 $ 424,116 $ 346,500...
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, 310 par value Retained earnings Total liabilities and equity $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230, 500 $445,000 5...
Simon Company's year-end balance sheets follow Current Yr 1 Yr Ago 2 Yrs Ago $ 29,700 $ 35,790 $ 35, 461 91,403 63,258 46, 799 112,690 81,10950,344 9,959 9,489 4,141 275,200 257,726 228,755 $518,952 $447,372 $365,500 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 $127,927 $...