Refer to Simon Companys financial information in Exercises 13-6 and 13-8. Evaluate the companys efficiency and profitability
Question:
Refer to Simon Company’s financial information in Exercises 13-6 and 13-8. Evaluate the company’s efficiency and profitability by computing the following for 2018 and 2017:
(1) Profit margin ratio—percent rounded to one decimal,
(2) Total asset turnover—rounded to one decimal,
(3) Return on total assets—percent rounded to one decimal. Comment on these ratio results.
Exercises 13-6
Exercises 13-8
Transcribed Image Text:
At December 31 2018 2017 2016 Assets Cash... $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net.. 89,500 62,500 50,200 Merchandise inventory.. 112,500 82,500 54,000 Prepaid expenses... Plant assets, net.. 10,700 9,375 5,000 278,500 255,000 230,500 Total assets.. $523.000 $445,000 $377,500 Liabilities and Equity Accounts payable..... $129,900 $ 75.250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500 101,500 83,500 Common stock, $10 par value. Retained earnings... Total liabilities and equity.. 163,500 163,500 163,500 79,250 104,750 $523.000 $445,000 $377,500 131,100
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (10 reviews)
1 Profit margin 2018 31100 673500 46 2017 29375 532000 5...View the full answer
Answered By
AJIN kuriakose
I have completed B.Tech in Electrical Engineering & Masters in Power & Control From one of the best universities in India. I got the 99.05 percentile in the Gate Electrical Engineering Exam. I can Help students solving assignments in Electrical subjects like Power Electronics, Control system, Analog, Network Theory & Engineering Mathematics. Clear your fundamentals and develop problem-solving skills and analytical skills to crack the exam.
Get guidance and the opportunity to learn from experienced...
I can provide tuition for Electrical engineering subjects (Power Electronics, Digital electronics, Network Theory, Control System & Engineering Mathematics). The toughest subject of Electrical engineering can be made simple in online classes...
I can also solve it.
1 .I can help you with your assignments or exams or quiz or tutoring.
2. Very strict to the deadlines.
Message me for any help in assignments, live sessions. I am here to help students for all assignments, tests and exams and I will make sure you always get _95% In your subject.
Contact me in solution inn for any help in your semester, projects and for many more things . Also feel free to contact me through solution inn and for any advise related to tutoring and how it works here.thank you.
5.00+
5+ Reviews
10+ Question Solved
Related Book For
Financial Accounting Information for Decisions
ISBN: 978-1259917042
9th edition
Authors: John J. Wild
Question Posted:
Students also viewed these Business questions
-
Refer to Simon Company's financial information in Exercises 13-6 and 13-8. Evaluate the company's efficiency and profitability by computing the following for 2015 and 2014: (1) Profit margin...
-
Refer to Simon Company's financial information in Exercises 13-6 and 13-8. Additional information about the company follows. To help evaluate the company's profitability, compute and interpret the...
-
Refer to the information in Exercises 13 and 15 about Mixon Company. Compare the long-term risk and capital structure positions of the company at the end of 2006 and 2005 by computing the following...
-
Cungs Dress Delivery operates a mail-order business that sells clothes designed for frequent travelers. It had sales of $610,000 in December. Because Cungs Dress Delivery is in the mail order...
-
What is the purpose of the International HapMap Project? How will it help researchers who study disease-causing alleles?
-
The trial balance of Pacilio Security Services Inc. as of January 1, 2015, had the following normal balances: During 2015, Pacilio Security Services experienced the following transactions: 1. Paid...
-
What is corporate governance?
-
Scare-2-B-U (S2BU) specializes in costumes for all occasions. The average price of each of its costumes is $160. For each occasion, S2BU receives a 20 percent deposit two months before the occasion,...
-
El costo de fabricacin de una pieza de un equipo de video est relacionado con la cantidadxproducida durante la produccin. Cuando se producen 100 piezas, el costo es de $300. Cuando se producen 600...
-
Driscoll Industries recognized the annual cost of depreciation on its December 31, 2018, financial statements. Using the following horizontal financial statements model, indicate how this event...
-
The following selected information is from Princeton Company?s comparative balance sheets. The company?s net income for the year ended December 31, 2018, was $48,000. 1. Compute the cash received...
-
Use the indirect method to prepare the cash provided or used from operating activities section only of the statement of cash flows for this company. CRUZ, INC. Comparative Balance Sheets December 31,...
-
(a) Set up an integral for the area of the shaded region. (b) Evaluate the integral to find the area. yA x= y? - 2 y=1 x=e y= 1
-
a. To what should specific audit objectives relate? b. What constitutes a useful starting point for deriving such objectives? c. Identify three factors the auditor should consider in tailoring...
-
Discuss the major features of quality management. How does it differ from an inspection-based, quality control system? What values does quality management ask all employees of an organization to...
-
a. What two aspects of reporting a financial statement component at an appropriate amount are encompassed in the valuation or allocation assertion? b. Identify four aspects of proper measurement that...
-
a. State two critical factors in determining the ability to use due care in completing an audit. b. Why is it advisable to accept a new audit engagement early in the client's fiscal year?
-
Discuss the predicted future changes in the composition of the U.S. workforce. Compare that workforce profile to your work experiences. What issues have you or will you face in a highly diverse...
-
a. How should Regal code its chart of accounts to facilitate financial reporting? Create account numbers for cash, capital stock and advertising expense for the following Regal theatres: Regal...
-
Let (x) = x 2 - 9, g(x) = 2x, and h(x) = x - 3. Find each of the following. (((--) 2
-
Crafton Manufacturing produces machine tools for the construction industry. The following details about overhead costs were taken from its company records. Additional information on the drivers for...
-
Kate Beckwith expects to invest $10,000 annually that will earn 8%. How many annual investments must Beckwith make to accumulate $303,243 on the date of the last investment? (Use Table B.4.)
-
Kate Beckwith expects to invest $10,000 annually that will earn 8%. How many annual investments must Beckwith make to accumulate $303,243 on the date of the last investment? (Use Table B.4.)
-
Techcom is designing a new smartphone. Each unit of this new phone will require $ 2 5 0 of direct materials; $ 3 0 of direct labor, $ 4 0 of variable overhead; $ 3 8 of variable selling, general, and...
-
The ur ad , usted trial balance of Blue Ltty , a public campanyfallowirg | FFS , at Darembe - 3 1 , 2 0 2 3 , is as folkows:
-
Templet Corp. earned net income of $ 1 3 5 , 1 2 0 and paid the minimum dividend to preferred stockholders for 2 0 2 4 . Assume that there are no changes in common shares outstanding during 2 0 2 4 ....
Study smarter with the SolutionInn App