Simon Company’s year-end balance sheets follow.
At December 31 | Current Yr | 1 Yr Ago | 2 Yrs Ago | ||||||||
Assets | |||||||||||
Cash | $ | 28,446 | $ | 32,579 | $ | 36,403 | |||||
Accounts receivable, net | 84,111 | 58,189 | 47,124 | ||||||||
Merchandise inventory | 103,659 | 76,892 | 51,708 | ||||||||
Prepaid expenses | 9,253 | 8,640 | 3,927 | ||||||||
Plant assets, net | 261,536 | 243,532 | 217,838 | ||||||||
Total assets | $ | 487,005 | $ | 419,832 | $ | 357,000 | |||||
Liabilities and Equity | |||||||||||
Accounts payable | $ | 123,690 | $ | 70,952 | $ | 47,124 | |||||
Long-term notes payable secured by mortgages on plant assets |
92,473 | 97,527 | 80,475 | ||||||||
Common stock, $10 par value | 162,500 | 162,500 | 162,500 | ||||||||
Retained earnings | 108,342 | 88,853 | 66,901 | ||||||||
Total liabilities and equity | $ | 487,005 | $ | 419,832 | $ | 357,000 | |||||
The company’s income statements for the Current Year and 1 Year
Ago, follow.
For Year Ended December 31 | Current Yr | 1 Yr Ago | ||||||||||
Sales | $ | 633,107 | $ | 499,600 | ||||||||
Cost of goods sold | $ | 386,195 | $ | 324,740 | ||||||||
Other operating expenses | 196,263 | 126,399 | ||||||||||
Interest expense | 10,763 | 11,491 | ||||||||||
Income tax expense | 8,230 | 7,494 | ||||||||||
Total costs and expenses | 601,451 | 470,124 | ||||||||||
Net income | $ | 31,656 | $ | 29,476 | ||||||||
Earnings per share | $ | 1.95 | $ | 1.81 | ||||||||
For both the Current Year and 1 Year Ago, compute the following ratios:
(1) Debt and equity ratios.
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Return on total assets
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Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Ca...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 32,294 $ 38,893 $ 38,527 Accounts receivable, net 93,598 67,395 53,488 Merchandise inventory 117,682 87,294 55,831 Prepaid expenses 10,295 10,009 4,369 Plant assets, net 299,017 273,035 248,985 Total assets $ 552,886 $ 476,626 $ 401,200 Liabilities and Equity Accounts payable $ 136,292 $ 78,133 $ 51,899 Long-term notes payable secured by mortgages on plant assets 100,824 107,432 87,779 Common stock,...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 34,945 $ 43,374 $ 44,312 Accounts receivable, net 104,412 72,956 58,492 Merchandise inventory 132,591 98,354 63,559 Prepaid expenses 11,369 11,386 4,874 Plant assets, net 327,281 300,308 276,363 Total assets $ 610,598 $ 526,378 $ 447,600 Liabilities and Equity Accounts payable $ 155,080 $ 90,737 $ 57,902 Long-term notes payable secured by mortgages on plant assets 114,792 119,856 98,920 Common stock,...
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 secured by mortgages on plant assets 104,945 110,682 86,044 Common stock,...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 34,945 $ 43,374 $ 44,312 Accounts receivable, net 104,412 72,956 58,492 Merchandise inventory 132,591 98,354 63,559 Prepaid expenses 11,369 11,386 4,874 Plant assets, net 327,281 300,308 276,363 Total assets $ 610,598 $ 526,378 $ 447,600 Liabilities and Equity Accounts payable $ 155,080 $ 90,737 $ 57,902 Long-term notes payable secured by mortgages on plant assets 114,792 119,856 98,920 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 $ 28,893 88,920 108,544 9,496 269,002 $504,855 $ 34,469 $ 36,646 59,712 49,355 82,931 52,032 9,140 4,072 248,968 231,795 $ 435,220 $ 373,900 $124,452...
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 $ 36,073 104,549 135,475 11,498 336,283 $623,878 $ 42,166 $ 43,066 74,543 58,001 100,493 62,395 11,068 4,833 309,556 271,105 $ 537,826 $ 439,400 $150,685...
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 $ 27,035 77,588 95,620 8,621 240, 374 $449,238 $ 31,602 $ 31,950 55,845 41,765 71,646 46, 277 8,051 3,480 220, 130 192,928 $ 387,274...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 31,800 $ 34,300 $ 36,200 Accounts receivable, net 89,700 62,500 53,300 Merchandise inventory 6,783 83,700 56,600 Prepaid expenses 10,986 9,345 3,665 Plant assets, net 450,731 255,155 190,235 Total assets $ 590,000 $ 445,000 $ 340,000 Liabilities and Equity Accounts payable $ 146,910 $ 73,701 $ 43,534 Long-term notes payable secured by mortgages on plant assets 112,029 100,303 76,643 Common stock,...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 32,200 $ 35,750 $ 38,200 Accounts receivable, net 88,700 63,000 50,500 Merchandise inventory 111,500 81,400 53,500 Prepaid expenses 11,000 9,450 5,100 Plant assets, net 281,000 251,500 234,000 Total assets $ 524,400 $ 441,100 $ 381,300 Liabilities and Equity Accounts payable $ 129,600 $ 75,750 $ 50,200 Long-term notes payable secured by mortgages on plant assets 97,500 100,000 83,000 Common stock,...
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 $ 25,385 77,328 91,561 8,258 236,505 $439,037 $ 29, 370 $ 30,912 52,987 40,800 67,918 44,339 7,789 3,400 220, 416 195,949 $ 378, 480 $...