Simon Company\'s year-end balance sheets follow 2014 2013 At December 31 Assets

Question

Simon Company's year-end balance sheets follow 2014 2013 At December 31 Assets Cash Accounts recelvable, net Merchandise inventory Prepaid expenses Plant assets, net 2015 $ 24,959 $ 29,753 $ 30,385 70,191 52,068 40,910 43,582 3,211 225,612 206,061 182,812 90,053 65,464 7,734 8,038 Total assets 418,853 $361,080 $300,900 Liabilities and Equity Accounts payable Long-term notes payable secured by $105,337 $ 62,243 $40,116 mortgages on plant assets Common stock, $10 par value Retained earnings 77169 83,879 68,494 162,500 162,500 162,500 73,84752,458 29,790 Total liabilities and equity 418,853 $361,080 $300,900

Explanation / Answer

Debt Ratio=Total Liability/Total Asset Numerator Denominator Debt Ratio 2015 $182,506 $418,853 0.4357 2014 $146,122 $361,080 0.4047 2013 $108,610 $300,900 0.3610 Equity Ratio= Total Equity/Total Asset Numerator Denominator Debt Ratio 2015 $236,347 $418,853 0.5643 2014 $214,958 $361,080 0.5953 2013 $192,290 $300,900 0.6390 Debt to Equity Ratio= Total Liability/ Total Sharaholder's Equity Numerator Denominator Debt Ratio 2015 $182,506 $236,347 0.7722 2014 $146,122 $214,958 0.6798 2013 $108,610 $192,290 0.5648

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