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
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(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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