ethics questions 13

Homework: Ethics Assignment i 13 Part 2 of 3. 2.14 points con=con&external_browser=0 Saved Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 36,000 $ 37,800 Accounts receivable, net $ 30,000 87,300 112,500 62,000 50,500 Merchandise inventory 82,400 53,500 Prepaid expenses Plant assets, net 10,450 279,000 9,400 255,500 5,100 232,000 Total assets $ 519,250 $ 445,300 $ 378,900 Liabilities and Equity Accounts payable $ 128,400 Long-term notes payable. $ 72,258 100, 750 $ 51,400 81,800 97,500 161,500 161,500 Common stock, $10 par value Retained earnings 161,500 84,200 131,850 110,800 Total liabilities and equity $ 519,250 $ 445,300 $ 378,900 The company's Income statements for the Current Year and 1 Year Ago, follow. Current Year Year Ago For Year Ended December 31 Sales $ 775,000 Cost of goods sold. $ 449,500 248,258 $ 352,800 134,400 Other operating expenses 13,200 Interest expense 11,700 9,600 8,700 Income tax expense 711,050 Total costs and expenses $ 63,950 Net income $3.96 Earnings per share For both the Current Year and 1 Year Ago, compute the following ratios: (2) Compute total asset turnover for the current year and one year ago. Skipped eBook Hint Print References $ 560,000 589, 100 $ 50,900 $ 3.15 2.14 points Skipped Book Hm Print References $ 63,950 Earnings per share $ 3.96 For both the Current Year and 1 Year Ago, compute the following ratios (2) Compute total asset turnover for the current year and one year ago. Total Asset Turmere Denominator Current Year: 1 Year Ago: 509,100 $ 50,900 $ 3.15 Tobal Asset Turnover times