Requlred Informetlon The following information applies to the questions displaye
ID: 2338826 • Letter: R
Question
Requlred Informetlon The following information applies to the questions displayed below Simon Company's year-end balance sheets follow. 2816 2815 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets $31,68e 35,75e 37,28e 89,988 61,5ae 58,8ae 111,58e 8,688 55,83e 9,45e 279,88e 257,500 232,80e 10,300 4,888 Liabilities and Equity Accounts payable Long-term no $13e,88e 74,258 $ 58,e8e tes payable secured by mortgages on plant assets Common stock, $19 par value Retained earnings Total liabilities and equity 97,58e 181,75e 88,28e 168,50e 168, 588 168, 58e 88,300 134, 300 The company's income statements for the years ended December 31, 2017 and 2016, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income 2017 2816 $765,88e $53,8ae $459,88e 237,15e 12,488 9.488 $ 333,98e 127,28e 13,48e 8,958 717,958 $ 47,85e $ 2.93 483,458 $46,55e $2.98 Earnings per share Evaluate the company's efficiency and profitability by computing the following for 2017 and 2016. (1) Profit margin ratio. Profit Margin Ratio -Profit Margin Ratio Profit margin ratio 2017 2016Explanation / Answer
Profit Margin Rtaio
Choose Numerator
/
Choose Denominator
=
Profit Margin Rtaio
Net income
/
Net Sales
=
2017
$ 47,050
/
$ 765,000
=
6.15%
2016
$ 46,550
/
$ 530,000
=
8.78%
Profit Margin Rtaio
Choose Numerator
/
Choose Denominator
=
Profit Margin Rtaio
Net income
/
Net Sales
=
2017
$ 47,050
/
$ 765,000
=
6.15%
2016
$ 46,550
/
$ 530,000
=
8.78%
Related Questions
Hire Me For All Your Tutoring Needs
Integrity-first tutoring: clear explanations, guidance, and feedback.
Drop an Email at
drjack9650@gmail.com
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.