Homework Answers
a. Total debt to asset ratio is computed as follows:
= Total debt / Total assets
= AED 638,000 / AED 2,095,000
= 0.30 Approximately
b. Times interest earned ratio is computed as follows:
= EBIT / Interest expense
= AED 239,000 / AED 52,000
= 4.60
c. Profit margin is computed as follows:
= Net income / Sales
= AED 102,200 / AED 500,000
= 20.44%
d. Return on Assets is computed as follows:
= Net Income / Total Assets
= AED 102,200 / AED 2,095,000
= 4.88% Appproximately
e. Debt to equity ratio is computed as follows:
= Total Debt / Equity
= AED 638,000 / AED 1,457,000
= 0.44 Approximately
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At December 31
2017
2016
2015
Assets
Cash
$
36,335
$
42,472
$
42,524
Accounts receivable, net
107,459
73,568
56,120
Merchandise inventory
139,163
102,226
60,994
Prepaid expenses
12,179
11,377
4,773
Plant assets, net
333,281
312,096
273,889
Total assets
$
628,417
$
541,739
$
438,300
Liabilities and Equity
Accounts payable
$
159,605
$
89,723
$
59,013
Long-term notes payable secured by
mortgages on plant assets
120,505
123,354
94,927
Common stock, $10 par value
162,500
162,500...
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Simon Company’s year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
36,335
$
42,472
$
42,524
Accounts receivable, net
107,459
73,568
56,120
Merchandise inventory
139,163
102,226
60,994
Prepaid expenses
12,179
11,377
4,773
Plant assets, net
333,281
312,096
273,889
Total assets
$
628,417
$
541,739
$
438,300
Liabilities and Equity
Accounts payable
$
159,605
$
89,723
$
59,013
Long-term notes payable secured by
mortgages on plant assets
120,505
123,354
94,927
Common stock, $10 par value
162,500
162,500...
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