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Exe (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? Complete this question by entering your answers in the tabs below. Required 3A Required 3B

Exe (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? Complete this question by entering your answers in the tabs below. Required 3A Required 3B

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter6: Receivables And Inventories
Section: Chapter Questions
Problem 6.2MBA: Allowance method Using transactions listed in £6-S. indicate the effects of each transaction on the...
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Exercise 13-10 Part 3 (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? Complete this question by entering your answers in the tabs below. Required 3A Required 3B Return on total assets Return On Total Assets Choose Numerator: I Choose Denominator: Return On Total Assets %3D Current assets Return on total assets %3D Current Year: %24 54,650 / 24 523,750 = 10.4 % 1 Year Ago: 0 % < Required 3A Required 3B > < Prev 7 of 8 Next >
Transcribed Image Text:Exercise 13-10 Part 3 (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? Complete this question by entering your answers in the tabs below. Required 3A Required 3B Return on total assets Return On Total Assets Choose Numerator: I Choose Denominator: Return On Total Assets %3D Current assets Return on total assets %3D Current Year: %24 54,650 / 24 523,750 = 10.4 % 1 Year Ago: 0 % < Required 3A Required 3B > < Prev 7 of 8 Next >
At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 31,600 88,000 112,500 10,650 281,000 $ 36,250 $ 62,000 83,800 9,350 249,500 38,400 49,500 52,500 4,500 235,000 Total assets $523,750 $440,900 $ 379,900 Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $128,400 $ 74,750 $ 50,800 97,000 160,500 137,850 98,250 160, 500 107,400 81,600 160,500 87,000 $523,750 $440,900 $ 379,900 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales 1 Yr Ago $ 620,000 Current Yr $755,000 Cost of goods sold other operating expenses Interest expense Income tax expense Total costs and expenses $445,450 234,050 11,300 9,550 $390,600 148,800 12,700 8,925 700,350 $ 54,650 561,025 $ 58,975 Net income Earnings per share %$4 3.40 2$ 3.67 For both the Current Year and 1 Year Aao. compute the followina ratios: %2S < Prev of 8 Next >
Transcribed Image Text:At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 31,600 88,000 112,500 10,650 281,000 $ 36,250 $ 62,000 83,800 9,350 249,500 38,400 49,500 52,500 4,500 235,000 Total assets $523,750 $440,900 $ 379,900 Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $128,400 $ 74,750 $ 50,800 97,000 160,500 137,850 98,250 160, 500 107,400 81,600 160,500 87,000 $523,750 $440,900 $ 379,900 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales 1 Yr Ago $ 620,000 Current Yr $755,000 Cost of goods sold other operating expenses Interest expense Income tax expense Total costs and expenses $445,450 234,050 11,300 9,550 $390,600 148,800 12,700 8,925 700,350 $ 54,650 561,025 $ 58,975 Net income Earnings per share %$4 3.40 2$ 3.67 For both the Current Year and 1 Year Aao. compute the followina ratios: %2S < Prev of 8 Next >
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