Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. 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 Common stock, $10 par value. Retained earnings. Total liabilities and equity Req 1 Req 2 and 3 For both the current year and one year ago, compute the following ratios: 1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of tot assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. ssets Fash ccounts receivable, net Merchandise inventory repaid expenses lant assets, net otal assets 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of assets favorable or unfavorable? Current Year 1 Year Ago $ 40,461 73,726 94,530 10,730 301,955 $ 521,402 SIMON COMPANY iabilities and Equity ccounts payable ong-term notes payable Common stock, $10 par Cetained earnings otal liabilities and equity $36,042 103,425 127,437 11,492 326,430 $ 604,826 Express the balance sheets in common-size percents. Note: Do not round intermediate calculations and round your final percentage answers to 1 decimal place. Common-Size Comparative Balance Sheets December 31 % $ 152,108 114,844 162,500 175,374 $ 604,826 % % % Current Year 1 Year Ago 2 Years Ago < Req 1 $ 56,219 $ 87,236 122,321 162,500 149,345 97,926 162,500 113,555 $ 521,402 $ 430,200 % % % % 2 Years Ago % $ 42,590 56,219 61,699 4,827 264,865 $430,200 % % % Req 2 and 3>
Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. 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 Common stock, $10 par value. Retained earnings. Total liabilities and equity Req 1 Req 2 and 3 For both the current year and one year ago, compute the following ratios: 1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of tot assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. ssets Fash ccounts receivable, net Merchandise inventory repaid expenses lant assets, net otal assets 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of assets favorable or unfavorable? Current Year 1 Year Ago $ 40,461 73,726 94,530 10,730 301,955 $ 521,402 SIMON COMPANY iabilities and Equity ccounts payable ong-term notes payable Common stock, $10 par Cetained earnings otal liabilities and equity $36,042 103,425 127,437 11,492 326,430 $ 604,826 Express the balance sheets in common-size percents. Note: Do not round intermediate calculations and round your final percentage answers to 1 decimal place. Common-Size Comparative Balance Sheets December 31 % $ 152,108 114,844 162,500 175,374 $ 604,826 % % % Current Year 1 Year Ago 2 Years Ago < Req 1 $ 56,219 $ 87,236 122,321 162,500 149,345 97,926 162,500 113,555 $ 521,402 $ 430,200 % % % % 2 Years Ago % $ 42,590 56,219 61,699 4,827 264,865 $430,200 % % % Req 2 and 3>
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 17P: Comprehensive: Income Statement and Supporting Schedules The following s a partial list of the...
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