Please do not give solution in image format thanku Simon Company's year-end balance sheets follow.At December 31AssetsCashAccounts receivable, netMerchandise inventoryPrepaid expensesPlant assets, netTotal assetsLiabilities and EquityAccounts payableLong-term notes payable securedby2017:2016:mortgages on plant assetsCommon stock, $10 par valueRetained earningsTotal liabilities and equityexpensesInterest expenseIncome taxesTotal costs andexpensesNet incomeEarnings per shareExercise 13-9 Part 3(3) Times interest earned.Choose Numerator:The company's income statements for the years ended December 31, 2017 and 2016, follow.For Year Ended2016December 31SalesCost of goods soldOther operating$411, 225209,55012,1009,5252017I11$ 31,800 $ 35,625 $ 37,80089,500 62,50050,20054,0005,0002017112,500 82,50010,7009,375278,500 255,000 230,500$523,000 $445,000 $377,500$129,900 $75,250 $ 51,250201698,500 101, 500163,500163,500131, 100104,750$523,000 $445,000 $377,500$673,500642, 400$ 31,1001.90Times Interest Earned/Choose Denominator:2015$345, 500134,98013,3008,845Calculate the company's long-term risk and capital structure positions at the end of 2017 and 2016 by computing thefollowing ratios.|||||83,500163,50079,250==$532,000502,625$ 29,375$ 1.80Times Interest EarnedTimes interest earnedtimestimes

The ratio analysis helps to analyze the Financial statements of the business on the basis of the…

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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity expenses Interest expense Income taxes Total costs and expenses Net income Earnings per share 2017 $31,800 89,500 112,500 82,500 10,700 9,375 278,500 255,000 230,500 $523,000 $445,000 $377,500 $129,900 $75,250 $ 51,250 The company's income statements for the years ended December 31, 2017 and 2016, follow. For Year Ended 2017 2016 December 31 Sales Cost of goods sold $411,225 Other operating 209,550 12,100 9,525 ercise 13-9 Part 3 2016 2015 $ 35,625 $ 37,800 62,500 50,200 54,000 5,000 98,500 101,500 83,500 163,500 163,500 163,500 131,100 104,750 79,250 $523,000 $445,000 $377,500 $673,500 642, 400 $ 31,100 1.90 $345,500 134,980 13,300 8,845 $532,000 502,625 $ 29,375 $ 1.80 Calculate the company's long-term risk and capital structure positions at the end of 2017 and 2016 by computing the following ratios.

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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity expenses Interest expense Income taxes Total costs and expenses Net income Earnings per share 2017 $31,800 89,500 112,500 82,500 10,700 9,375 278,500 255,000 230,500 $523,000 $445,000 $377,500 $129,900 $75,250 $ 51,250 The company's income statements for the years ended December 31, 2017 and 2016, follow. For Year Ended 2017 2016 December 31 Sales Cost of goods sold $411,225 Other operating 209,550 12,100 9,525 ercise 13-9 Part 3 2016 2015 $ 35,625 $ 37,800 62,500 50,200 54,000 5,000 98,500 101,500 83,500 163,500 163,500 163,500 131,100 104,750 79,250 $523,000 $445,000 $377,500 $673,500 642, 400 $ 31,100 1.90 $345,500 134,980 13,300 8,845 $532,000 502,625 $ 29,375 $ 1.80 Calculate the company's long-term risk and capital structure positions at the end of 2017 and 2016 by computing the following ratios.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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