answer se10-5 and 6

Chapter 10 Accounting for Liabilities 509 SMITH & SONS, INC. Balance Sheet December 31, 2016 and 2015 (in millions) Liabilities and Stockholders' Equity 2016 2015 Long-term liabilities. Total liabilities... Stockholders' equity-common.. . . Total Liabilities and Stockholders' Equity . . . . 3,000 $ 2.900 5.0005,400 ...8,000 8,300 2.300 2.200 . . . . $10,300 $10,500 L04 SE 10-5. Current Ratio Calculate the current ratio for Smith & Sons, Inc., for 2015 and 2016, and comment on the company's working capital position. Did the company's improve over the two years? ability to pay its current liabilities SE10-6. Quick Ratio Calculate the quick ratio for Smith & Sons, Inc, or 2015 and 2016, and comment on the company's working capital position. Did the company's ability to pay its current improve over the two years