Simon Companys year-end balance sheets follow. At December 31 2017 2016...
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Accounting
Simon Companys year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
31,800
$
36,000
$
37,200
Accounts receivable, net
88,100
62,000
50,500
Merchandise inventory
111,000
83,800
54,500
Prepaid expenses
10,300
9,350
4,600
Plant assets, net
280,000
257,000
235,000
Total assets
$
521,200
$
448,150
$
381,800
Liabilities and Equity
Accounts payable
$
129,200
$
75,250
$
50,400
Long-term notes payable secured by mortgages on plant assets
98,000
100,000
82,600
Common stock, $10 par value
161,500
161,500
161,500
Retained earnings
132,500
111,400
87,300
Total liabilities and equity
$
521,200
$
448,150
$
381,800
The companys income statements for the years ended December 31, 2017 and 2016, follow.
For Year Ended December 31
2017
2016
Sales
$
755,000
$
640,000
Cost of goods sold
$
468,100
$
409,600
Other operating expenses
218,950
147,200
Interest expense
11,300
13,400
Income taxes
9,550
8,575
Total costs and expenses
707,900
578,775
Net income
$
47,100
$
61,225
Earnings per share
$
2.92
$
3.79
(1) Profit margin ratio. Profit Margin Ratio 1 Choose Denominator: Choose Numerator: = Profit Margin Ratio Profit margin ratio 2017 2016 (2) Total asset turnover. Total Asset Turnover 1 Choose Denominator: Choose Numerator: = Total Asset Turnover Total asset turnover times 2017 2016 times (3) Return on total assets. Return On Total Assets Choose Denominator: Choose Numerator: = = Return On Total Assets Return on total assets 2017 2016 1 1 =
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