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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 Interest expense Income tax expense Total costs and expenses Net income For both the current year and one year ago, compute the following ratios: Earnings per share Current Year $ 32,893 100, 248 123,571 10,593 307,446 $574,751 $ 144,544 105,892 162,500 161,815 $ 574,751 The company's income statements for the current year and 1 year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses. (3-a) Return on total assets. 1511 Exercise 13-10 (Algo) Analyzing efficiency and profitability LO P3 $ 455,777 231,625. 12,702 9,713 FIA Current Year 1 Year Ago $ 39,242 68,673 92,580 10,613 284,367 $495,475 $86,247 115,099 162,500 131,629 $ 495,475 $ 747,176 709,817 $ 37,359 $ 2.30 For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? (2) Total asset turnover. 2 Years Ago $ 39,674 52,365 58,631 4,497 249,633 $ 404,800 $ 383,250 149,173 13,561 8,844 $ 52,365 90,355 163,500 98,580 $ 404,800 1 Year Ago $589,615 554,828 $ 34,787 $ 2.14 3 AVA *** Next

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 Interest expense Income tax expense Total costs and expenses Net income For both the current year and one year ago, compute the following ratios: Earnings per share Current Year $ 32,893 100, 248 123,571 10,593 307,446 $574,751 $ 144,544 105,892 162,500 161,815 $ 574,751 The company's income statements for the current year and 1 year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses. (3-a) Return on total assets. 1511 Exercise 13-10 (Algo) Analyzing efficiency and profitability LO P3 $ 455,777 231,625. 12,702 9,713 FIA Current Year 1 Year Ago $ 39,242 68,673 92,580 10,613 284,367 $495,475 $86,247 115,099 162,500 131,629 $ 495,475 $ 747,176 709,817 $ 37,359 $ 2.30 For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? (2) Total asset turnover. 2 Years Ago $ 39,674 52,365 58,631 4,497 249,633 $ 404,800 $ 383,250 149,173 13,561 8,844 $ 52,365 90,355 163,500 98,580 $ 404,800 1 Year Ago $589,615 554,828 $ 34,787 $ 2.14 3 AVA *** Next

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 40E: Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for...
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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 For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Current Year Earnings per share $ 32,893 100, 248 123,571 10,593 307,446 $ 574,751 $ 144,544 105,892 162,500 161,815 $ 574,751 For both the current year and one year ago, compute the following ratios: IST $ 455,777 231,625 12,702 9,713 The company's income statements for the current year and 1 year ago, follow. Current Year Exercise 13-10 (Algo) Analyzing efficiency and profitability LO P3 1 Year Ago $747,176 $ 39,242 68,673 92,580 10,613 284,367 $495,475 709,817 $ 37,359 $ 2.30 $ 86,247 115,099 162,500 131,629 $ 495,475 JELE For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? (2) Total asset turnover. (3-a) Return on total assets. 2 Years Ago $ 383,250 149, 173 13,561 8,844 $ 39,674 52,365 58,631 4,497 249,633 $ 404,800 $ 52,365 90,355 163,500 98,580 $ 404,800 1 Year Ago $589,615 554,828 $ 34,787 $ 2.14 H 117 S 47 Next D
Transcribed Image Text: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 For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Current Year Earnings per share $ 32,893 100, 248 123,571 10,593 307,446 $ 574,751 $ 144,544 105,892 162,500 161,815 $ 574,751 For both the current year and one year ago, compute the following ratios: IST $ 455,777 231,625 12,702 9,713 The company's income statements for the current year and 1 year ago, follow. Current Year Exercise 13-10 (Algo) Analyzing efficiency and profitability LO P3 1 Year Ago $747,176 $ 39,242 68,673 92,580 10,613 284,367 $495,475 709,817 $ 37,359 $ 2.30 $ 86,247 115,099 162,500 131,629 $ 495,475 JELE For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? (2) Total asset turnover. (3-a) Return on total assets. 2 Years Ago $ 383,250 149, 173 13,561 8,844 $ 39,674 52,365 58,631 4,497 249,633 $ 404,800 $ 52,365 90,355 163,500 98,580 $ 404,800 1 Year Ago $589,615 554,828 $ 34,787 $ 2.14 H 117 S 47 Next D
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