- Required Information The Following Information Applies To The Questions Displayed Below Simon Company S Year End Bala 1 (71.7 KiB) Viewed 3 times
- Required Information The Following Information Applies To The Questions Displayed Below Simon Company S Year End Bala 2 (45.96 KiB) Viewed 3 times
- Required Information The Following Information Applies To The Questions Displayed Below Simon Company S Year End Bala 3 (41.41 KiB) Viewed 3 times
- Required Information The Following Information Applies To The Questions Displayed Below Simon Company S Year End Bala 4 (37.24 KiB) Viewed 3 times
- Required Information The Following Information Applies To The Questions Displayed Below Simon Company S Year End Bala 5 (42.73 KiB) Viewed 3 times
- Required Information The Following Information Applies To The Questions Displayed Below Simon Company S Year End Bala 6 (35.93 KiB) Viewed 3 times
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 Income tax expense Total costs and expenses Net income: Current Year Earnings per share $ 36,773 110,886 138,065 11,603 332,244 $ 629,571 $ 159,898 115,992 162,500 191, 181 $ 629,571 Current Year 1 Year Ago $ 43,419 75,223 102,414 11,397 310, 281 $ 542,734 $ 499, 250 253,717 13,914 10,640 $ 91,722 127,325 162,500 161,187 $ 542,734 The company's income statements for the current year and one year ago, follow. 1 Year Ago For Year Ended December 31 Sales Cost of goods sold other operating expenses Interest expense $ 818,442 2 Years Ago $ 44,332 60, 292 777,521 $ 40,921 $ 2.52 64,223 4,926 274,027 $ 447,800 $ 60,292 98,964 162,500 126,044 $ 447,800 $ 419,804 163,401 14,855 9,688 $ 645,853 607,748 $ 38,105 $ 2.34
(1) Compute debt and equity ratio for the current year and one year ago. Current Year: 1 Year Ago: Current Year: 1 Year Ago: Numerator: Numerator: Debt Ratio Equity Ratio Denominator: Denominator: H II Debt Ratio Debt ratio Equity Ratio Equity ratio % %
(2-a) Compute debt-to-equity ratio for the current year and one year ago. (2-b) Based on debt-to-equity ratio, does the company have more or less debt in the current year versus one year ago? Complete this question by entering your answers in the tabs below. Required 2A Required 20 Compute debt-to-equity ratio for the current year and one year ago. Debt To Equity Ratio Current Year: 1 Year Ago: Numerator: Denominator: Reclared t Debt-To-Equity Ratio Debt-to-equity ratio Required 28 > to 1 to 1 D
(2-a) Compute debt-to-equity ratio for the current year and one year ago. (2-b) Based on debt-to-equity ratio, does the company have more or less debt in the current year versus one year ago? Complete this question by entering your answers in the tabs below. Required 2A Required 28 Based on debt-to-equity ratio, does the company have more or less debt in the current year versus one year ago? Based on debt-to-equity ratio, the company has debt in the current year versus one year ago. federen en S < Required 2A
(3-0) Compute times interest earned for the current year and one year ago. (3-b) Based on times Interest earned, is the company more or less risky for creditors in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 3A Required 38 Compute times interest earned for the current year and one year ago. Times Interest Earned Current Year: 1 Year Ago: Numerator: Denominator: Required 38 > Times Interest Earned Times interest earned times times
(3-a) Compute times interest eamed for the current year and one year ago. (3-b) Based on times interest earned, is the company more or less risky for creditors in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 3A Required 38 Based on times interest earned, is the company more or less risky for creditors in the Current Year versus 1 Year Ago? Based on times interest earned, the company is for creditors in the current year versus one year ago. Aedaned las < Required 3A