Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 62,500 82,500 9,375 255,000 $ 445,000 $ 37,800 50,200 54,000 5,000 230,500 $ 377,500 Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings $ 75,250 101,500 163,500 104,750 $ 445,000 $ 51,250 129,900 98,500 163,500 131,100 $ 523,000 83,500 163,500 79,250 Total liabilities and equity $ 377,500 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 Interest expense Income tax expense Total costs and expenses Current Year 1 Year Ago $ 673,500 $ 532,000 $ 411,225 209,550 12,100 9,525 $ 345,500 134,980 13,300 8,845 642,400 $ 31,100 $ 1.90 502,625 $ 29,375 $ 1.80 Net income Earnings per share Additional information about the company follows. Common stock market price, December 31, Current Year Common stock market price, December 31, 1 Year Ago Annual cash dividends per share in Current Year Annual cash dividends per share 1 Year Ago $ 30.00 28.00 0.29 0.24 Required 1 Required 2 Required 3A Required 38 Compute the return on equity for each year. Return On Equlty Numerator: Denominator Return On Equity Net income Average total equity Return on equity Current Year %24 31,100 $ %24 523,000 5.9 % 1 Year Ago %24 29,375 $ 245,410- 12.0 % Required 1 Required 2 Required 3A Required 38 Compute the dividend yield for each year. (Round your answers to 2 decimal places.) Dividend Yield Numerator: Denominator: Dividend Yleld Annual cash dividends per share Market price per share - Dividend yield Current Year: 1 Year Ago: ( Required 1 Required 3A > Required 1 Required 2 Required 3JA Required 38 Compute the price-earnings ratio for each year. (Round your answers to 2 decimal places.) Price-Earnings Ratio Numerator: Denominator: - Price-Earnings Ratio Market price per common share IEamings per share Price-eamings ratio Current Year: 1 Year Ago: < Required 2 Required 3B

Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 62,500 82,500 9,375 255,000 $ 445,000 $ 37,800 50,200 54,000 5,000 230,500 $ 377,500 Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings $ 75,250 101,500 163,500 104,750 $ 445,000 $ 51,250 129,900 98,500 163,500 131,100 $ 523,000 83,500 163,500 79,250 Total liabilities and equity $ 377,500 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 Interest expense Income tax expense Total costs and expenses Current Year 1 Year Ago $ 673,500 $ 532,000 $ 411,225 209,550 12,100 9,525 $ 345,500 134,980 13,300 8,845 642,400 $ 31,100 $ 1.90 502,625 $ 29,375 $ 1.80 Net income Earnings per share Additional information about the company follows. Common stock market price, December 31, Current Year Common stock market price, December 31, 1 Year Ago Annual cash dividends per share in Current Year Annual cash dividends per share 1 Year Ago $ 30.00 28.00 0.29 0.24 Required 1 Required 2 Required 3A Required 38 Compute the return on equity for each year. Return On Equlty Numerator: Denominator Return On Equity Net income Average total equity Return on equity Current Year %24 31,100 $ %24 523,000 5.9 % 1 Year Ago %24 29,375 $ 245,410- 12.0 % Required 1 Required 2 Required 3A Required 38 Compute the dividend yield for each year. (Round your answers to 2 decimal places.) Dividend Yield Numerator: Denominator: Dividend Yleld Annual cash dividends per share Market price per share - Dividend yield Current Year: 1 Year Ago: ( Required 1 Required 3A > Required 1 Required 2 Required 3JA Required 38 Compute the price-earnings ratio for each year. (Round your answers to 2 decimal places.) Price-Earnings Ratio Numerator: Denominator: - Price-Earnings Ratio Market price per common share IEamings per share Price-eamings ratio Current Year: 1 Year Ago: < Required 2 Required 3B

Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 62,500 82,500 9,375 255,000 $ 445,000 $ 37,800 50,200 54,000 5,000 230,500 $ 377,500 Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings $ 75,250 101,500 163,500 104,750 $ 445,000 $ 51,250 129,900 98,500 163,500 131,100 $ 523,000 83,500 163,500 79,250 Total liabilities and equity $ 377,500 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 Interest expense Income tax expense Total costs and expenses Current Year 1 Year Ago $ 673,500 $ 532,000 $ 411,225 209,550 12,100 9,525 $ 345,500 134,980 13,300 8,845 642,400 $ 31,100 $ 1.90 502,625 $ 29,375 $ 1.80 Net income Earnings per share Additional information about the company follows. Common stock market price, December 31, Current Year Common stock market price, December 31, 1 Year Ago Annual cash dividends per share in Current Year Annual cash dividends per share 1 Year Ago $ 30.00 28.00 0.29 0.24 Required 1 Required 2 Required 3A Required 38 Compute the return on equity for each year. Return On Equlty Numerator: Denominator Return On Equity Net income Average total equity Return on equity Current Year %24 31,100 $ %24 523,000 5.9 % 1 Year Ago %24 29,375 $ 245,410- 12.0 % Required 1 Required 2 Required 3A Required 38 Compute the dividend yield for each year. (Round your answers to 2 decimal places.) Dividend Yield Numerator: Denominator: Dividend Yleld Annual cash dividends per share Market price per share - Dividend yield Current Year: 1 Year Ago: ( Required 1 Required 3A > Required 1 Required 2 Required 3JA Required 38 Compute the price-earnings ratio for each year. (Round your answers to 2 decimal places.) Price-Earnings Ratio Numerator: Denominator: - Price-Earnings Ratio Market price per common share IEamings per share Price-eamings ratio Current Year: 1 Year Ago: < Required 2 Required 3B

Intermediate Accounting: Reporting And Analysis

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...

See similar textbooks

Related questions

Question

I need the answer as soon as possible

Simon Company's year-end balance sheets follow.
At December 31
Current Year
1 Year Ago 2 Years Ago
Assets
$ 37,800
50,200
54,000
5,000
230,500
$ 377,500
$ 31,800
$ 35,625
62,500
82,500
9,375
255,000
$ 445,000
Cash
Accounts receivable, net
Merchandise inventory
Prepaid expenses
Plant assets, net
89,500
112,500
10,700
278,500
$ 523,000
Total assets
Liabilities and Equity
Accounts payable
Long-term notes payable
Common stock, $10 par value
Retained earnings
129,900
98,500
163,500
131,100
$ 523,000
$ 75,250
101,500
163,500
104,750
$ 51,250
83,500
163,500
79,250
$ 377,500
Total liabilities and equity
$ 445,000
The company's income statements for the current year and 1 year ago, follow.
For Year Ended December 31
1 Year Ago
$ 532,000
Current Year
Sales
$ 673,500
Cost of goods sold
Other operating expenses
Interest expense
Income tax expense
Total costs and expenses
$ 411,225
209,550
12,100
9,525
$ 345,500
134,980
13,300
8,845
642,400
$ 31,100
$ 1.90
502,625
$ 29,375
Net income
Earnings per share
$ 1.80
Additional information about the company follows.
Common stock market price, December 31, Current Year
Common stock market price, December 31, 1 Year Ago
Annual cash dividends per share in Current Year
Annual cash dividends per share 1 Year Ago
$ 30.00
28.00
0.29
0.24
Required 1
Required 2
Required 3A Required 38
Compute the return on equity for each year.
Return On Equity
Numerator:
Denominator:
Return On Equity
Net income
Average total equity
Return on equity
Current Year
%24
31,100 /
%24
523,000 =
5.9 %
1 Year Ago
29,375/
245,410 =
12.0 %
Required 1
Required 2 Required 3A Required 38
Compute the dividend yield for each year. (Round your answers to 2 decimal places.)
Dividend Yield
Numerator:
Annual cash dividends per share
Denominator:
Dividend Yleld
IMarket price per share
Dividend yield
Current Year:
0 %
1 Year Ago:
0 %
< Required 1
Required 3A >
Required 1
Required 2 Required 3A Required 38
Compute the price-earnings ratio for each year. (Round your answers to 2 decimal places.)
Price-Earnings Ratio
Numerator:
Denominator:
- Price-Earnings Ratio
Market price per common share
IEamings per share
Price-earnings ratio
Current Year:
1 Year Ago:
< Required 2
Required 38 >

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 3 images

SEE SOLUTION Check out a sample Q&A here

Blurred answer

Knowledge Booster

Public Issue

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

SEE MORE QUESTIONS

Recommended textbooks for you

Intermediate Accounting: Reporting And Analysis

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Financial Accounting

Financial Accounting

Accounting

ISBN:

9781305088436

Author:

Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:

Cengage Learning

Managerial Accounting: The Cornerstone of Busines…

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Intermediate Accounting: Reporting And Analysis

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Financial Accounting

Financial Accounting

Accounting

ISBN:

9781305088436

Author:

Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:

Cengage Learning

Managerial Accounting: The Cornerstone of Busines…

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Cornerstones of Financial Accounting

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Financial Accounting: The Impact on Decision Make…

Financial Accounting: The Impact on Decision Make…

Accounting

ISBN:

9781305654174

Author:

Gary A. Porter, Curtis L. Norton

Publisher:

Cengage Learning

Survey of Accounting (Accounting I)

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS