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The company's income statements for the current year and one year ago, follow. 1 Year Ago For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per' share i Current Year: 1 Year Ago: Current Year: 1 Year Ago: Numerator: Current Year Numerator: $ 459,536 233,534 (1) Compute debt and equity ratio for the current year and one year ago. 12,807 9,793 Debt Ratio $ 753,337 Denominator: Equity Ratio 715,670 $ 37,667 $2.32 Denominator: W " M # $ 386,409 150,402 13,673 8,917 Debt Ratio Debt ratio Equity Ratio. Equity ratio $ 594,476 559,401 $ 35,075 $ 2.16 % % % %

The company's income statements for the current year and one year ago, follow. 1 Year Ago For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per' share i Current Year: 1 Year Ago: Current Year: 1 Year Ago: Numerator: Current Year Numerator: $ 459,536 233,534 (1) Compute debt and equity ratio for the current year and one year ago. 12,807 9,793 Debt Ratio $ 753,337 Denominator: Equity Ratio 715,670 $ 37,667 $2.32 Denominator: W " M # $ 386,409 150,402 13,673 8,917 Debt Ratio Debt ratio Equity Ratio. Equity ratio $ 594,476 559,401 $ 35,075 $ 2.16 % % % %

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 39E: Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for...
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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 Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Income tax expense Total costs and expenses Net income Earnings per share. Current Year Numerator: $ 33,506 100,084 127,082 11,010 307,808 $ 579,490 $147,179 111,123 162,500 158,688 $ 579,490 Current Year Debt Ratio The company's income statements for the current year and one year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense $ 459,536 233,534 12,807 9,793 1 Year Ago 2 Years Ago $ 40,764 $ 39,977 69,239 53,853 58,523 4,534 259,413 $ 416,300 95,191 10,491 283,875 $ 499,560 Denominator: Dreu $ 86,114 112,601 162,500 138,345 $ 499,560 (1) Compute debt and equity ratio for the current year and one year ago. $ 753,337 715,670 $ 37,667 $ 2.32 = $ 55,501 89,242 162,500 109,057 $ 416,300 7 1 Year Ago $ 386,409 150,402 13,673 8,917 Debt Ratio Debt ratio 12 $ 594,476 m 559,401 $ 35,075 $ 2.16 Mout S
Transcribed Image Text: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 Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Income tax expense Total costs and expenses Net income Earnings per share. Current Year Numerator: $ 33,506 100,084 127,082 11,010 307,808 $ 579,490 $147,179 111,123 162,500 158,688 $ 579,490 Current Year Debt Ratio The company's income statements for the current year and one year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense $ 459,536 233,534 12,807 9,793 1 Year Ago 2 Years Ago $ 40,764 $ 39,977 69,239 53,853 58,523 4,534 259,413 $ 416,300 95,191 10,491 283,875 $ 499,560 Denominator: Dreu $ 86,114 112,601 162,500 138,345 $ 499,560 (1) Compute debt and equity ratio for the current year and one year ago. $ 753,337 715,670 $ 37,667 $ 2.32 = $ 55,501 89,242 162,500 109,057 $ 416,300 7 1 Year Ago $ 386,409 150,402 13,673 8,917 Debt Ratio Debt ratio 12 $ 594,476 m 559,401 $ 35,075 $ 2.16 Mout S
Chapter 13 LULBE The company's income statements for the current year and one year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per' share Current Year: 1 Year Ago: Current Year: 1 Year Ago: Numerator: Current Year Numerator: $ 459,536 233,534 12,807 9,793 (1) Compute debt and equity ratio for the current year and one year ago. Debt Ratio $ 753,337 Denominator: Equity Ratio Denominator: 715,670 $ 37,667 $2.32 Saved # H " 11 1 Year Ago $ 386,409 150,402 13,673 8,917 Debt Ratio Debt ratio: Equity Ratio Equity ratio $ 594,476 559,401 $ 35,075 $ 2.16 % % % % Help
Transcribed Image Text:Chapter 13 LULBE The company's income statements for the current year and one year ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per' share Current Year: 1 Year Ago: Current Year: 1 Year Ago: Numerator: Current Year Numerator: $ 459,536 233,534 12,807 9,793 (1) Compute debt and equity ratio for the current year and one year ago. Debt Ratio $ 753,337 Denominator: Equity Ratio Denominator: 715,670 $ 37,667 $2.32 Saved # H " 11 1 Year Ago $ 386,409 150,402 13,673 8,917 Debt Ratio Debt ratio: Equity Ratio Equity ratio $ 594,476 559,401 $ 35,075 $ 2.16 % % % % Help
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