Refer to Simeon Companys balance sheets in Exercise 13-6. Analyze its year-end short-term liquidity position at the

Question:

Refer to Simeon Company’s balance sheets in Exercise 13-6. Analyze its year-end short-term liquidity position at the end of 2009, 2008, and 2007 by computing (1) the current ratio and (2) the acid-test ratio.

Comment on the ratio results.

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