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BMAL530 Assignment: Homework 3 FALL 2014

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Question;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;Company?s 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;Company?s 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;company?s 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 company?s 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;Company?s 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;company?s 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;Company?s 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;company?s 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

 

Paper#38106 | Written in 18-Jul-2015

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