Use the following information for the Exercises below. (Algo) [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 $ 25,693 75,195 91,790 7,868 226,383 $ 426,929 1 Year Ago $ 106,305 81,065 162,500 77,059 $426,929 $ 30,032 51,526 68,088 7,729 210,667 $368,042 Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity For both the current year and one year ago, compute the following ratios: 2 Years Ago $ 60,955 86,343 163,500 57,244 $368,042 $ 31,284 40,485 44,871 3,408 189,752 $ 309,800 $ 40,894 66,412 163,500 38,994 $ 309,800

Required information [The following information applies to the questions displayed below.) Income statements for the current year and one year ago, follow. Assume that all sales are on credit. 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. Year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Inventory Prepaid rent Machinery, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock Retained earnings Total liabilities and equity Current Year $ 121,756 92,867 162,500 121,838 $ 498,961 $ 395,676 201,081 11,027 8,432 $ 648,649 Current Year 1 Year Ago 2 Years Ago $ 33,723 35, 135 $ 28,850 87,882 107,277 59,015 46,378 80,371 49,388 9,214 9,196 265,756 3,943 220,056 247,816 $ 498,961 $430,139 $ 354,900 $ 74,147 101,900 162,500 91,592 $430,139 616,216 $ 32,433 $ 2.00 $ 45,910 76,080 162,500 70,410 $ 354,900…

Use the following information for the Exercises below. (Algo) [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 For Year Ended December 31 Sales Cost of goods sold Other operating expenses Exercise 13-11 (Algo) Analyzing profitability LO P3 Interest expense Income tax expense Total costs and expenses Net income Earnings per share For both the current year and one year ago, compute the following ratios: Current Year The company's income statements for the Current Year and 1 Year Ago, follow. $ 460,312 233,929 12,828 9,810 $ 34,590 97,275 124,801 11,139 312,664 $ 580,469 $ 143,091 106,946 162,500 167,932 $ 580,469 Compute the price-earnings ratio for each year.…

Vishnu

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 Current Year $ 31,800 89,500 112,500. 10,700 278,500 $ 523,000 Interest expense Income tax expense Total costs and expenses Net income. Earnings per share $ 129,900 98,500 163,500 131,100 $ 523,000 Current Year $ 411,225 209,550 1 Year Ago $ 35,625 62,500 82,500 9,375 255,000 $ 445,000 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: 4 12,100 9,525 $ 75,250 101,500 163,500 104,750 $ 445,000 $ 673,500 2 Years Ago 642,400 $ 31,100 $ 1.90 $ 37,800 50,200 54,000 5,000 230,500 $ 377,500 $51,250 83,500 163,500 79,250 $ 377,500 1 Year Ago $ 345,500…

The following information relates to SE10-5 through SE10-7: (in millions) Net sales... Cost of goods sold SE10-7. Gross profit. Selling and administrative expenses Income from operations Interest expense.. EVANS & SONS, INC. Income Statement For Years Ended December 31, 2019 and 2018 Income before income taxes Income tax expense. Net income (in millions) Assets Current assets Cash and cash equivalents Accounts receivable Inventory.. Other current assets. Total current assets Property, plant, & equipment (net) Other assets. Total Assets Liabilities and Stockholders' Equity Current liabilities. Long-term liabilities. Total liabilities.. EVANS & SONS, INC. Balance Sheet December 31, 2019 and 2018 Stockholders' equity - common. Total Liabilities and Stockholders' Equity.. 2019 9,800 (5,500) 4,300 (2,800) 1,500 (300) $ 1,200 2019 100 900 500 400 2018 1,900 2,600 5,700 $10,200 9,300 (5,200) 4,100 (2,700) (220) (200) $980 $950 1,400 $ (250) 1,150 2018 300 800 650 250 2,000 2,500 5,900 $10,400…

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 For Year Ended December 31 Sales Cost of goods sold Other operating expenses Current Year 1 Year Ago $ 31,099 $ 26,605 89, 200 114,500 62,900 85,000 8,568 221, 258 8,163 209,503 $ 460, 131 $ 396,665 Interest expense Income tax expense Total costs and expenses Net income Earnings per share $ 112,281 84,775 162,500 100,575 $ 460,131 $ 396,665 $ 65,696 89,408 162,500 79, 061 Current Year The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: $364,884 185,433 10, 169 7,776 $598,170 2 Years Ago 568, 262 $ 29,908 $ 1.84 $ 32,725 50,800…

Patton Corporation had the following items on its financial statements for two recent years: Line Item Description     Year 2     Year 1 Sales $2,500,000 $2,000,000 Cost of goods sold 1,975,000 1,600,000 Cash 500,000 475,000 Temporary investments 150,000 150,000 Accounts receivable (net) 200,000 175,000 Inventory 325,000 300,000 Accounts payable 450,000 400,000 Based on these data, calculate Patton Corporation’s working capital for Year 2.a. $725,000b. $1,625,000c. $2,050,000d. $650,000   2.  Patton Corporation had the following items on its financial statements for two recent years: Line Item Description     Year 2     Year 1 Sales $2,500,000 $2,000,000 Cost of goods sold 1,975,000 1,600,000 Cash 500,000 475,000 Temporary investments 150,000 150,000 Accounts receivable (net) 200,000 175,000 Inventory 325,000 300,000 Accounts payable 450,000 400,000 Based on these data, calculate Patton Corporation’s accounts receivable turnover for Year 2.a.…

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Use the following information for the Problems below. Skip to question   [The following information applies to the questions displayed below.]Lansing Company’s current-year income statement and selected balance sheet data at December 31 of the current and prior years follow.  LANSING COMPANYIncome StatementFor Current Year Ended December 31 Sales revenue $ 127,200   Expenses       Cost of goods sold   52,000   Depreciation expense   17,000   Salaries expense   28,000   Rent expense   10,000   Insurance expense   4,800   Interest expense   4,600   Utilities expense   3,800   Net income $ 7,000        LANSING COMPANYSelected Balance Sheet Accounts At December 31 Current Year   Prior Year Accounts receivable   $ 6,600       $ 7,800   Inventory     2,980         2,040   Accounts payable     5,400         6,600   Salaries payable     1,080         800   Utilities payable     420         260   Prepaid insurance     360         480   Prepaid rent…