300, DU013 429,00 $ 144,581 $ 87,158 $ 56,741 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 111,367 162,500 168,063 $ 586,511 112,802 91,236 162,500 162,500 143,153 115, 123 $ 505,613 $ 425,600 1-a) Compute the current ratio for each of the three years. 1-b) Did the current ratio improve or worsen over the three year period? 2-a) Compute the acid-test ratio for each of the three years. 2-b) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio 1 Choose Denominator: Choose Numerator: Current Ratio Current ratio = Current Yr: to 1 to 1 1 Yr Ago: 2 Yrs Ago: to 1 Required 1A Required 1B (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 28 Compute the acid-test ratio for each of the three years, Acid-test ratio Choose Numerator 1 Choose Denominator: Acid-Test Ratio Acid-test ratio 0 to 1 Current Yr: cation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%25 Connect - To Do As.. Mind Tap - Cengag... MasteringBiology MSIMnet - Assignme... ise 6 Saved Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 35,296 101,296 122,317 11,367 316,235 $ 586,511 $ 39,640 $ 42,134 72,909 55,056 91,668 59,831 10,299 4,635 291,097 263,944 $ 505,613 $ 425,600 $ 144,581 $ 87, 158 $ 56, 741 111,367 162,500 168,063 $ 586,511 112,802 91,236 162,500 162,500 143, 153 115, 123 $ 505,613 $ 425,600 (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 28 Compute the acid-test ratio for each of the three years. Acid-test ratio
