Simon Companys year-end balance sheets follow. ...
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Accounting
Simon Companys year-end balance sheets follow. |
At December 31 | 2014 | 2013 | 2012 | |||||||
Assets | ||||||||||
Cash | $ | 34,855 | $ | 40,742 | $ | 42,436 | ||||
Accounts receivable, net | 102,052 | 70,572 | 57,164 | |||||||
Merchandise inventory | 129,607 | 97,101 | 60,867 | |||||||
Prepaid expenses | 11,568 | 11,131 | 4,812 | |||||||
Plant assets, net | 324,740 | 300,128 | 276,621 | |||||||
Total assets | $ | 602,822 | $ | 519,674 | $ | 441,900 | ||||
Liabilities and Equity | ||||||||||
Accounts payable | $ | 151,604 | $ | 85,190 | $ | 60,081 | ||||
Long-term notes payable secured by mortgages on plant assets | 113,331 | 117,135 | 97,660 | |||||||
Common stock, $10 par value | 162,500 | 162,500 | 162,500 | |||||||
Retained earnings | 175,387 | 154,849 | 121,659 | |||||||
Total liabilities and equity | $ | 602,822 | $ | 519,674 | $ | 441,900 | ||||
The companys income statements for the years ended December 31, 2014 and 2013, follow. |
For Year Ended December 31 | 2014 | 2013 | |||||||||
Sales | $ | 783,669 | $ | 618,412 | |||||||
Cost of goods sold | $ | 478,038 | $ | 401,968 | |||||||
Other operating expenses | 242,937 | 156,458 | |||||||||
Interest expense | 13,322 | 14,223 | |||||||||
Income taxes | 10,188 | 9,276 | |||||||||
Total costs and expenses | 744,485 | 581,925 | |||||||||
Net income | $ | 39,184 | $ | 36,487 | |||||||
Earnings per share | $ | 2.41 | $ | 2.25 | |||||||
Additional information about the company follows. |
Common stock market price, December 31, 2014 | $33.00 |
Common stock market price, December 31, 2013 | 31.00 |
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: |
(1) | Return on common stockholders' equity. | ||||||
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