1.
award:
2.18 out of
2.72 points
2015
2014
2013
2012
2011
Sales
$ 561,561
$ 369,448
$ 300,364
$ 213,782
$ 153,800
Cost
of goods sold
288,846
189,968
156,536
110,229
78,438
Accounts
receivable
27,180
21,539
20,515
12,463
10,520
Compute
trend percents for the above accounts, using 2011 as the base year.
Explanation:
No further explanation details are available for this problem.
2.
award:
2.72 out of
2.72 points
Common-size
and trend percents for Rustynail Company’s sales, cost of goods sold, and
expenses follow.
Common-Size Percents
Trend Percents
2014
2013
2012
2014
2013
2012
Sales
100.0
%
100.0
%
100.0
%
104.6
%
103.4
%
100.0
%
Cost
of goods sold
63.5
61.3
56.9
116.7
111.4
100.0
Total
expenses
14.3
13.8
14.1
106.2
101.2
100.0
Determine
the net income for the following years. (Enter
all amounts as positive values.)
3.
award:
2.72 out of
2.72 points
Simon
Company’s year-end balance sheets follow.
At
December 31
2014
2013
2012
Assets
Cash
$
30,861
$
35,709
$
37,576
Accounts
receivable, net
91,250
64,403
50,102
Merchandise
inventory
115,866
85,947
53,897
Prepaid
expenses
10,039
9,374
4,092
Plant
assets, net
280,329
260,037
230,133
Total
assets
$
528,345
$
455,470
$
375,800
Liabilities
and Equity
Accounts
payable
$
131,558
$
74,665
$
50,598
Long-term
notes payable secured by
mortgages on plant assets
98,336
106,853
83,052
Common
stock, $10 par value
163,500
163,500
163,500
Retained
earnings
134,951
110,452
78,650
Total
liabilities and equity
$
528,345
$
455,470
$
375,800
Express
the balance sheets in common-size percents. (Do
not round intermediate calculations and round your final answers to 1
decimal place.)
4.
award:
1.56 out of
2.72 points
Simon
Companyâs year-end balance sheets follow.
At
December 31
2014
2013
2012
Assets
Cash
$
34,425
$
40,240
$
41,497
Accounts
receivable, net
96,782
69,716
55,889
Merchandise
inventory
126,702
91,194
61,325
Prepaid
expenses
10,864
10,246
4,751
Plant
assets, net
314,706
291,603
259,938
Total
assets
$
583,479
$
502,999
$
423,400
Liabilities
and Equity
Accounts
payable
$
143,833
$
85,857
$
54,771
Long-term
notes payable secured by
mortgages on plant assets
111,888
113,376
92,636
Common
stock, $10 par value
162,500
162,500
162,500
Retained
earnings
165,258
141,266
113,493
Total
liabilities and equity
$
583,479
$
502,999
$
423,400
(1)
Compute
the current ratio for the year ended 2014, 2013, and 2012.
5 6 AND 7
[The following information applies to
the questions displayed below.]
Simon
Companyâs year-end balance sheets follow.
At
December 31
2014
2013
2012
Assets
Cash
$
33,925
$
39,250
$
42,146
Accounts
receivable, net
102,337
70,812
54,525
Merchandise
inventory
123,624
96,380
61,050
Prepaid
expenses
11,036
10,622
4,590
Plant
assets, net
315,806
288,736
259,189
Total
assets
$
586,728
$
505,800
$
421,500
Liabilities
and Equity
Accounts
payable
$
143,173
$
87,190
$
55,082
Long-term
notes payable secured by
mortgages on plant assets
110,305
118,661
93,152
Common
stock, $10 par value
162,500
162,500
162,500
Retained
earnings
170,750
137,449
110,766
Total
liabilities and equity
$
586,728
$
505,800
$
421,500
The
companyâs income statements for the years ended December 31, 2014 and 2013,
follow.
For Year Ended December 31
2014
2013
Sales
$
762,746
$
601,902
Cost
of goods sold
$
465,275
$
391,236
Other
operating expense
236,451
152,281
Interest
expense
12,967
13,844
Income
taxes
9,916
9,029
Total
costs and expense
724,609
566,390
Net
income
$
38,137
$
35,512
Earnings
per share
$
2.35
$
2.19
Calculate
the companyâs long-term risk and capital structure positions at the end of
2014 and 2013 by computing the following ratios.
8 9 AND 10
[The following information applies to
the questions displayed below.]
Simon
Companyâs year-end balance sheets follow.
At
December 31
2014
2013
2012
Assets
Cash
$
31,400
$
36,250
$
37,000
Accounts
receivable, net
89,500
62,500
49,000
Merchandise
inventory
112,500
81,000
53,000
Prepaid
expenses
10,500
9,325
5,300
Plant
assets, net
281,000
251,500
232,000
Total
assets
$
524,900
$
440,575
$
376,300
Liabilities
and Equity
Accounts
payable
$
129,200
$
74,000
$
51,200
Long-term
notes payable secured by
mortgages on plant assets
95,500
99,750
82,000
Common
stock, $10 par value
161,500
161,500
161,500
Retained
earnings
138,700
105,325
81,600
Total
liabilities and equity
$
524,900
$
440,575
$
376,300
The
companyâs income statements for the years ended December 31, 2014 and 2013,
follow.
For Year Ended December 31
2014
2013
Sales
$
665,000
$
600,000
Cost
of goods sold
$
412,300
$
384,000
Other
operating expense
199,500
144,000
Interest
expense
11,700
12,700
Income
taxes
9,550
8,575
Total
costs and expense
633,050
549,275
Net
income
$
31,950
$
50,725
Earnings
per share
$
1.98
$
3.14
Evaluate
the company’s efficiency and profitability by computing the following for
2014 and 2013.
11.
award:
0 out of
2.80 points
Simon
Companyâs year-end balance sheets follow.
At
December 31
2014
2013
2012
Assets
Cash
$
24,964
$
29,470
$
29,494
Accounts
receivable, net
72,354
51,067
40,128
Merchandise
inventory
90,071
67,481
41,873
Prepaid
expenses
7,801
7,433
3,444
Plant
assets, net
223,746
205,701
189,061
Total
assets
$
418,936
$
361,152
$
304,000
Liabilities
and Equity
Accounts
payable
$
104,315
$
62,866
$
40,529
Long-term
notes payable secured by
mortgages on plant assets
80,335
81,404
66,512
Common
stock, $10 par value
162,500
162,500
162,500
Retained
earnings
71,786
54,382
34,459
Total
liabilities and equity
$
418,936
$
361,152
$
304,000
The
companyâs income statements for the years ended December 31, 2014 and 2013,
follow.
For Year Ended December 31
2014
2013
Sales
$
544,617
$
429,771
Cost
of goods sold
$
332,216
$
279,351
Other
operating expenses
168,831
108,732
Interest
expense
9,258
9,885
Income
taxes
7,080
6,447
Total
costs and expenses
517,385
404,415
Net
income
$
27,232
$
25,356
Earnings
per share
$
1.68
$
1.56
Additional
information about the company follows.
Common
stock market price, December 31, 2014
$30.00
Common
stock market price, December 31, 2013
28.00
Annual
cash dividends per share in 2014
0.22
Annual
cash dividends per share in 2013
0.11
To help
evaluate the company’s profitability, compute the following ratios for 2014
and 2013:
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