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

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

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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