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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 1 Year Ago 2 Years Ago $ 42,463 76,585 102,204 11,602 308,766 $ 541,620 $36,698 106,361 133,729 11,699 339,792 $ 628,279 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: $ 153,313 120,479 162,500 191,987 $ 628,279 $ 42,493 58,410 62,835 4,819 273,943 $ 442,500 $ 91,534 122,081 162,500 165,505 $57,242 99,748 162,500 123,010 $ 541,620 $ 442,500

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 1 Year Ago 2 Years Ago $ 42,463 76,585 102,204 11,602 308,766 $ 541,620 $36,698 106,361 133,729 11,699 339,792 $ 628,279 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: $ 153,313 120,479 162,500 191,987 $ 628,279 $ 42,493 58,410 62,835 4,819 273,943 $ 442,500 $ 91,534 122,081 162,500 165,505 $57,242 99,748 162,500 123,010 $ 541,620 $ 442,500

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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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 1 Year Ago 2 Years Ago $36,698 106,361 133,729 11,699 339,792 $ 628,279 $ 153,313 120,479 Liabilities and Equity Accounts payable $91,534 122,081 Long-term notes payable Common stock, $10 par value Retained earnings 162,500 165,505 Total liabilities and equity $ 628,279 $ 541,620 For both the current year and one year ago, compute the following ratios: 162,500 191,987 $ 42,463 76,585 102,204 11,602 308,766 $ 541,620 Exercise 13-6 (Algo) Common-size percents LO P2 $ 42,493. 58,410 62,835 4,819 273,943 $ 442,500 $57,242 99,748 162,500 123,010 $ 442,500 1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total
Transcribed Image Text: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 1 Year Ago 2 Years Ago $36,698 106,361 133,729 11,699 339,792 $ 628,279 $ 153,313 120,479 Liabilities and Equity Accounts payable $91,534 122,081 Long-term notes payable Common stock, $10 par value Retained earnings 162,500 165,505 Total liabilities and equity $ 628,279 $ 541,620 For both the current year and one year ago, compute the following ratios: 162,500 191,987 $ 42,463 76,585 102,204 11,602 308,766 $ 541,620 Exercise 13-6 (Algo) Common-size percents LO P2 $ 42,493. 58,410 62,835 4,819 273,943 $ 442,500 $57,242 99,748 162,500 123,010 $ 442,500 1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total
Required information 1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. Req 1 Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage. answers to 1 decimal place.) Assets Cash ework i Accounts receivable, net Merchandise inventory Prepaid expenses Assets Cash Req 2 and 3 Required information SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Prepaid expenses Plant assets, net Total assets Accounts receivable, net Merchandise inventory Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par Retained earnings Total liabilities and equity Req 1 Req 2 and 3 Current Year 1 Year Ago Current Year 2. Change in accounts receivable 3. Change in merchandise inventory % % % % < Req 1 < Reg 1 2 Years Ago 1 Year Ago Required information Complete this question by entering your answers in the tabs below. % % % Saved 2 Years Ago % % 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? Reg 2 and 3> % Req 2 and 3> 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Show less A
Transcribed Image Text:Required information 1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. Req 1 Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage. answers to 1 decimal place.) Assets Cash ework i Accounts receivable, net Merchandise inventory Prepaid expenses Assets Cash Req 2 and 3 Required information SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Prepaid expenses Plant assets, net Total assets Accounts receivable, net Merchandise inventory Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par Retained earnings Total liabilities and equity Req 1 Req 2 and 3 Current Year 1 Year Ago Current Year 2. Change in accounts receivable 3. Change in merchandise inventory % % % % < Req 1 < Reg 1 2 Years Ago 1 Year Ago Required information Complete this question by entering your answers in the tabs below. % % % Saved 2 Years Ago % % 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? Reg 2 and 3> % Req 2 and 3> 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Show less A
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