! Required information [The following information applies to the questions displayed below.] Simon Company's year-end ba

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Required Information The Following Information Applies To The Questions Displayed Below Simon Company S Year End Ba 1 (57.52 KiB) Viewed 9 times

Required Information The Following Information Applies To The Questions Displayed Below Simon Company S Year End Ba 2 (44.82 KiB) Viewed 9 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 Current Year $ 32,981 95,588 120, 184 10,302 299,939 $ 558,994 For Year Ended December 31 Sales Cost of goods sold Other operating expenses Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value $ 81,440 111,943 163,500 125,008 Retained earnings Total liabilities and equity $ 481,891 For both the current year and one year ago, compute the following ratios: Interest expense Income tax expense Total costs and expenses Net income $ 141,973 107, 193 163,500 146,328 $558,9941 $ 443,282 225,275 12,354 9,447 The company's income statements for the current year and 1 year ago, follow. Current Year 1 Year Ago 1 Year Ago $ 38,166 66,790 86,475 10,120 280,340 $ 481,891 $ 726,692 690,358 $36,334 2 Years Ago $ 38,182 50,909 57,588 4,330 246,591 $ 397,600 $ 372,743 145,083 13,189 8,602 $ 53,533 89,627 163,500 90,940 $ 397,600 $ 573,450 539,617 $ 33,833
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 Net income Earnings per share 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. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? Current Year $ 443,282 225,275 12,354 9,447 $ 726,692 690,358 $ 36,334 $ 2.24 Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Required 3A Required 3B Compute total asset turnover for the current year and one year ago. 1 Year Ago $ 372,743 145, 083 13,189 8,602 $ 573,450 539,617 $ 33,833 $2.08