MC 2022 FALL-ACC112 30008 x 6 Question 13 - CH 17 HW - CO' x a Home | Cheggcom X i + .m- ( C' i https://ezto.mheducation.com/ext/map/indexthtml?_con=con&external_browser=0&launchUr|=https%253A%252F%252F|mstmheducationcom.\" ] 3'} @ CH 17 HW 0 Saved Help Save & Exit Submit 13 At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 31,800 $ 35,625 $ 37,300 Accounts receivable, net 89,500 62,500 50,200 Merchandise inventory 112,500 82,500 54,000 Pan1of3 Prepaid expenses 10,700 9,375 5,000 _ Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity 10 Accounts payable 5 129,900 5 75,250 5 51,250 points Long-term notes payable 98,500 101,500 83,500 Common stock, $10 par value 163,500 163,500 163,500 Retained earnings 131,100 104,750 79,250 egook Total liabilities and equity 3 523,000 $ 445,000 $ 377,500 Print The company's income statements for the current year and 1 year ago, followt References For Year Ended December 31 Current Year 1 Year Ago Sales $ 673,500 5 532,000 Cost of goods sold $ 411,225 $ 345,500 other operating expenses 209,550 134,980 Interest expense 12,100 13,300 Income tax expense 9,525 3,845 Total costs and expenses 642,400 502,625 Net income 5 31,100 $ 29,375 Earnings per share $ 1.90 $ 1.80 For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Compute prot margin ratio for the current year and one year ago. (1-b) Did prot margin improve or worsen in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. on g 13 1 15 of 15 Next > MC 2022 FALL-ACC112 30008 X Question 13 - CH 17 HW - Con X C Home | Chegg.com X + C https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com... Update : CH 17 HW i Saved Help Save & Exit Submit Check my work 13 Required information Part 1 of 3 (1-a) Compute profit margin ratio for the current year and one year ago. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? 10 points Complete this question by entering your answers in the tabs below. eBook Required 1A Required 1B Print References Compute profit margin ratio for the current year and one year ago. Profit Margin Ratio Numerator: Denominator: = Profit Margin Ratio = Profit margin ratio Current Year: 1 Year Ago: HillMC 2022 FALL-ACC112 30008 X Question 14 - CH 17 HW - Cont X C Home | Chegg.com X + C https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com... Update : CH 17 HW i Saved Help Save & Exit Submit Check my work 14 Merchandise inventory 112 , 500 82 , 500 54, 000 Prepaid expenses 10 , 700 9 , 375 5 , 000 Plant assets, net 278 , 500 255, 000 230, 500 Total assets $ 523, 000 $ 445, 000 $ 377 , 500 Liabilities and Equity Part 2 of 3 Accounts payable $ 129, 900 $ 75 , 250 $ 51, 250 Long-term notes payable 98 , 500 101, 50 83 , 500 Common stock, $10 par value 163, 500 163 , 500 163 , 500 Retained earnings 131, 100 104 , 750 79, 250 10 Total liabilities and equity $ 523, 000 $ 445, 000 $ 377, 500 points The company's income statements for the current year and 1 year ago, follow. eBook For Year Ended December 31 Current Year 1 Year Ago Sales $ 673, 500 $ 532, 000 Print Cost of goods sold $ 411, 225 $ 345, 500 Other operating expenses 209, 550 134, 980 References Interest expense 2, 100 13, 300 Income tax expense 9 , 525 8 , 845 Total costs and expenses 642, 400 502 , 625 Net income $ 31 , 100 $ 29, 375 Earnings per share $ 1.90 $ 1. 80 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 Turnover Numerator: Denominator: = Total Asset Turnover = Total asset turnover Current Year: times 1 Year Ago: times Mc Graw HillMC 2022 FALL-ACC112 30008 X Question 15 - CH 17 HW - Cont X C Home | Chegg.com X + C https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com... Update : CH 17 HW i Saved Help Save & Exit Submit Check my work 15 For Year Ended December 31 Current Year 1 Year Ago Sales $ 673, 500 $ 532 , 000 Cost of goods sold $ 411, 225 $ 345, 500 Other operating expenses 209, 550 134 , 980 Interest expense 12, 100 13 , 300 Part 3 of 3 Income tax expense 9 , 525 8, 845 Total costs and expenses 642, 400 502, 625 Net income $ 31, 100 $ 29, 375 10 Earnings per share $ 1.90 $ 1. 80 points For both the Current Year and 1 Year Ago, compute the following ratios: eBook Print (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 Ago? References Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute return on total assets for the current year and one year ago. Return On Total Assets Numerator: Denominator: Return On Total Assets 1 = Return on total assets Current Year: 1I 1 Year Ago: Required 3A Required 3B Mc Graw Hill