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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
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 27,311 31,601 33,587 44,782 101,53376,061 46,744 3,769 171 207,018 467,573 403,080 $335,900 78,356 55, 867 9,062 8,380 251,311231, 115,261 67,43945,226 mortgages on plant assets Conmon stock, $10 par value Retained earnings Total liabilities and equity 89,662 93,635 74,976 162,500 162,500 162,500 100,150 79,506 53,198 467,573 $ 403,080 $ 335,900 1. Compute the current ratio for the year ended 2017, 2016, and 2015 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015. Complete this question by entering your answers in the tabs below Required 1 Required 2 Compute the acid-test ratio for the years ended December 31, 2017, 2016, and 2015 Acid Test Ratio Choose Numerator Choose Denominator: Acid-Test Ratio #1 Acid-test ratio 2017 2016: 2015: o to 1 o to 1 0 to 1 Required 1 Compute the acid-test ratio for the years ended December 31, 2017, 2016, and 2015 tio Choose Numerator: Choose Denominator: Acid-Test Ratio 2017 2016: 2015 o to 1 0 to 1 0 to 1
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