Required information 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 Current Year $ 32,893 100, 248 123,571 10,593 307,446 $ 574,751 $ 144,544 105,892 162,500 161,815 $ 574,751 $ 455,777 231,625 12,702 9,713 Current Year 1 Year Ago $ 39,242 68,673 92,580 10,613 284,367 $ 495,475 For both the current year and one year ago, compute the following ratios: $ 747,176 $ 86,247 115,099 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 709,817 $ 37,359 $ 2.30 162,500 131,629 $ 495,475 Exercise 13-10 (Algo) Analyzing efficiency and profitability LO P3 2 Years Ago $ 39,674 52,365 58,631 4,497 249,633 $ 404,800 $ 383,250 149,173 13,561 8,844 Earnings per share For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. $ 52,365 90,355 163,500 98,580 $ 404,800 1 Year Ago $ 589,615 554,828 $ 34,787 $ 2.14
Required information 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 Current Year $ 32,893 100, 248 123,571 10,593 307,446 $ 574,751 $ 144,544 105,892 162,500 161,815 $ 574,751 $ 455,777 231,625 12,702 9,713 Current Year 1 Year Ago $ 39,242 68,673 92,580 10,613 284,367 $ 495,475 For both the current year and one year ago, compute the following ratios: $ 747,176 $ 86,247 115,099 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 709,817 $ 37,359 $ 2.30 162,500 131,629 $ 495,475 Exercise 13-10 (Algo) Analyzing efficiency and profitability LO P3 2 Years Ago $ 39,674 52,365 58,631 4,497 249,633 $ 404,800 $ 383,250 149,173 13,561 8,844 Earnings per share For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. $ 52,365 90,355 163,500 98,580 $ 404,800 1 Year Ago $ 589,615 554,828 $ 34,787 $ 2.14
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 5E: Multiple-Step and Single-Step In coin Statements The following items were derived from Gold...
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