Question: Compute return on total assets for the current year and one year ago. Current Year: 1 Year Ago: Numerator: Return On Total Assets Denominator:

Compute return on total assets for the current year and one year

Compute return on total assets for the current year and one year ago. Current Year: 1 Year Ago: Numerator: Return On Total Assets Denominator: R Return On Total Assets = Return on total assets 1 == 0% I = 0% Compute profit margin ratio for the current year and one year ago. Current Year: 1 Year Ago: Numerator: Profit Margin Ratio I Denominator: 1 1 Profit Margin Ratio Profit margin ratio 0% 0% Compute total asset turnover for the current year and one year ago. Current Year: 1 Year Ago: Total Asset Turnover Numerator: Denominator: Total Asset Turnover Total asset turover 0 times ' 0 times Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Other operating expenses Total costs and expenses At December 31 Current Year 1 Year Ago 2 Years Ago Net income Assets Cash $ 33,355 $ 38,988 $ 39,036 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 96,672 125,193 11,064 299,048 66,865 51,527 87,456 55,431 10,541 283,505 4,251 244,055 Total assets $ 565,332 $ 487,355 Liabilities and Equity $ 394,300 Earnings per share For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? The company's income statements for the current year and 1 year ago, follow. For Year Ended December 31 Sales Cost of goods sold Interest expense Income tax expense 1 Year Ago $ 376,969 146,728 13,339 $579,952 Current Year $ 734,932 $ 448,309 227,829 12,494 9,554 8,699 698,186 $ 36,746 545,735 $ 34,217 $2.26 $ 2.11 Accounts payable $ 142,175 $ 84,834 $ 51,527 Long-term notes payable 108,408 Common stock, $10 par value 163,500 Retained earnings Total liabilities and equity For both the current year and one year ago, compute the following ratios: 151,249 109,850 162,500 130,171 85,397 163,500 (2) Total asset turnover. 93,876 $ 565,332 $ 487,355 $ 394,300 (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?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

On May 1, 2024, Karen Fashions borrowed $106,000 at a bank by signing a four-year, 6% loan. The terms of the loan require equal principal payments of $26,500 and accrued interest at 6% due annually...

Question 1 A variable is normally distributed with mean 23 and standard deviation 4. Find each of the following probabilities. Give the answer to 4 decimal places as needed. (If you work with the...

Discuss the measures required to provides physical security of network resources. Explain the following measures provided for securing data: Authentication and authorization Encryption Virtual...

MS Corporation's balance sheet as of today is as follows: Long-term debt (bonds, at par)$10,000,000 Preferred stock2,000,000 Common stock ($10 par)10,000,000 Retained earnings 4,000,000 Total debt...

Complete this question by entering your answers in the tabs below. Compute return on total assets for the current year and one year ago. Complete this question by entering your answers in the tabs...

Compute return on total assets for the current year and one year ago. Based on return on total assets, did Simon's operating effidency improve or worsen in the Current Year versus 1 Year Ago? ompute...

(3-a) Compute return on total assets for the current year and one year ago. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year...

Exercise 13-10 (Algo) Analyzing efficiency and profitability LO P3 [Alternote Version] [The following information applies to the questions displayed below] Simon Company's yearend balance sheets...

Exercise 13-10 (Algo) Part 3 [Alternate Version] (3-a) Compute return on total assets for the current year and one year ago. (3-b) Based on return on total assets, did Simon's operating efficiency...

what is a limitations in using a decision tree analysis, including data elements and decision tree analysis itself?

According to the February 2008 Federal Trade Commission report on consumer fraud and identity theft, 23% of all complaints in 2007 were for identity theft. In that year, Alaska had 321 complaints of...

How does try-except statement work?Demonstrate with an example python code?

Roger McGuinn and David Crosby, _ _ _ _ _ _ _ _ _ _ _ _ , recall the Beatles taking LSD and playing guitars together with them prior to the Rubber Soul album songs being recorded and written. both...

Martha and Lew are married taxpayers with $400 of foreign tax withholding from dividends in a mutual fund. They have enough foreign income from the mutual fund to claim the full $400 as a foreign tax...

Jasper is single and is a computer software consultant with a college degree. He feels that one of the reasons for his success is that he continually updates his knowledge by taking classes at the...

The company entered into the following transactions during the year: Purchase of investment securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $400 Sale of investment securities . ....

What option value is used in the computation of compensation expense associated with a basic stock-based compensation plan?

The Olson Company adopted the dollar-value LIFO method for inventory valuation at the beginning of 2006. The following information about the inventory at the end of each year is available from the...

how to Establishes a trigger point for implementing an action in a project

RSTN Co. produces its product in two sequential processing departments. During October, the first process finished and transferred 150,000 units of its product to the second process. Of these units,...

Analyze each transaction from Exercise 13-4 by showing its effect on the accounting equation specifically, identify the accounts and amounts (including + or ) for each transaction. Data From Exercise...

General Ledger (GL) Assignments expose students to general ledger software similar to that in practice. GL is part of Connect, and GL assignments are auto-gradable and have algorithmic options. GL...

Suppose a perfectly competitive market for hot-dog stands in New York City becomes monopolistically competitive when gourmet, discount, and ethnic hot-dog retailers show up, making each cart slightly...

Large telecom companies like AT&T routinely send repair technicians to customers homes. Although they are skilled laborers, they must usually train on the job, so it takes some time for them to reach...

For which good would you expect deadweight loss to be smaller relative to the total surplus in its market: Burger King hamburgers or Lady Gaga MP3s? Explain your answer.